The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
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Welcome to The Flinchum File

I am an Accredited Investment Fiduciary at Bay Capital Advisors, an investment firm headquartered in Virginia Beach, VA. After retiring from Truist Bank, I started this firm to work more closely with a smaller number of clients, and it has been great! Our client load is about 25% of the national average.

Writing is not for the shy or the meek. It exposes a person’s mind and character. I hope you enjoy the view.

Fear > Greed


I think the first thing I learned in the first class of the first investment course I took in college was that “the pain of losing money far exceeds the joy of making money.”  To a college kid, it is hard to understand how the emotion of losing a thousand dollars is significantly worse than … Continue reading Fear > Greed

Rand Quixote


I love the philosophy of Ayn Rand but find her followers too strident and too intellectually arrogant for my sensibilities.  That’s why I’m distrustful of Rand Paul, who was named after her, and is her principal acolyte in Congress. But, I applaud his efforts to stop the NSA invasion of our privacy.  He does not … Continue reading Rand Quixote

The More Things Change . . .


Apparently, I visited my late mother in November of 1998.  While cleaning out some of her possessions, I discovered a copy of my favorite magazine, The Economist, dated November 21st, 1998 that I must have left there.  Taking a trip down Memory Lane, I was bemused by the discussion of interest rates on page 75. … Continue reading The More Things Change . . .

Never Forget


I don’t know which poet wrote this, but I am thankful to them . . . as well as thankful to those who “paid the full measure” for the rest of us. Reminder of what Memorial Day is all about… It happens today, and in the past;Sacrifice made, for ours to last. Wives to widows, … Continue reading Never Forget

Good News Is Not Bad News


The stock market is bouncing around record highs.  I hate that — because investors start asking if it is time to sell.  “You know, it can’t go up forever.” That’s true – the stock market will go down . . . eventually.  But, I don’t think it is going down significantly anytime soon.  Take a … Continue reading Good News Is Not Bad News

One Single-Issue Voter


Political-type people hate “splinter” voters, who vote on the basis of one single issue, regardless of all other policy issues.  You know, don’t bother me with the facts – plural – I only need one fact – singular!  For example, I have relatives who would gladly vote for Satan himself, if he would just outlaw … Continue reading One Single-Issue Voter

Breakout or Breakdown ?


There are many approaches to investing, one of which is usually called “channel” investing.  Basically, it holds that stock values normally move within a predictable range.  Unless something unusual happens, it will stay within that range.  So, a channel investor will buy the stock when it is near the lower level of the range and … Continue reading Breakout or Breakdown ?

Bouncing Back ?


It is true of capitalism that the seeds of every recovery are planted during the last recession, and the seeds of every recession are planted during the last recovery.  However, it does seem ironic to describe Russia in terms of capitalism, but it is fair. The Russian economy has been in free-fall for over a … Continue reading Bouncing Back ?

Success . . . I think


Surprisingly often, I remember a co-worker in Dallas from the late 1970’s.  She was a cigarette smoker, who believed she could quit smoking whenever she wanted.  However, she also believed that the self-discipline or will-power to quit was like a muscle — you have to exercise it!  So, she did not smoke on Fridays!  She … Continue reading Success . . . I think

Lesson From Wine Country


I was fortunate to be in Napa, California, last week, where a friend told me the story of the Mondavi winery and recommended The House of Mondavi:  The Rise and Fall of an American Wine Dynasty by Julia Flynn Siler, which I did read on the long flight home.  (I suspect the saga of the Mondavi brothers … Continue reading Lesson From Wine Country

drip . . . drip . . . drip . . .


Companies are required to disclose their financial results on a quarterly basis.  This is known as the “confession season.”  Stock analysts estimate the company’s total earnings and earnings-per-share beforehand.  Their estimates are then averaged and published.  Normally, a company’s stock will increase if their financial results exceed the estimates or decrease if they don’t. The … Continue reading drip . . . drip . . . drip . . .

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