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.

“Smart” Beta ??


Like fashion, some investment strategies become stylish for a while and then fade away.  A hot strategy over the last few years is called “factor-investing.” It is based on the notion that investment performance can be improved by slavishly adhering to certain base beliefs.  For instance, there are several studies that show small-cap stocks perform … Continue reading “Smart” Beta ??

Q1; The Snapback Quarter


For those long-suffering readers who want to read my quarterly column for Inside Business, it lives here:  

The Fiduciary Rule


Another reader asked me to discuss the new Department of Labor (DOL) requirement that IRAs be subject to the Fiduciary Rule, rather than the Suitability Rule. Suppose you and your financial advisor decide that your portfolio needs a mid-cap growth mutual fund, but one of the funds offers an all-expense trip to Hawaii for advisors … Continue reading The Fiduciary Rule

Inverted Good Sense?


A reader requested that I explain the controversy about “tax inversions” but without wading through a bunch of numbers.  That’s a tough assignment, but here goes: A tax inversion occurs when a large company in a high tax nation buys a smaller company in a low tax nation and changes their headquarters to the low … Continue reading Inverted Good Sense?

Jobs Friday


If it is the first Friday of the month, then it must be “Jobs Friday” when the Bureau of Labor Standards releases its monthly employment report. Today, we learned that the American economy produced 215 thousand jobs last month, which is slightly more than expected.  The new jobs are largely (80%) in the service sector. … Continue reading Jobs Friday

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