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.

Aging Agelessly ?


There are tests to measure how well a person understands the wide world of finance.  They are called financial literacy tests.  There are also tests to measure how confident people feel in their understanding of finance, called financial confidence tests.  Not surprisingly, both test scores rise as a person ages but only until a point, … Continue reading Aging Agelessly ?

Dying Inside-Out


This afternoon, the neighborhood will celebrate Memorial Day with an old-fashioned party of hot dogs, hamburgers, and all the unhealthy American food a red-blooded person could want.  Neighbors will re-connect after a long winter, I guess.  Everybody will be happy to see each other. This morning, my 93-year-old father, who is a veteran of the … Continue reading Dying Inside-Out

120th Birthday


Happy Birthday to you,Happy Birthday to you,Happy Birthday, Dow Jones Industrial Average,Happy Birthday to youuuuuuuuuuu  !!!Yes, today is the 120th birthday of the Dow Jones Industrial Average, and you would expect that it would be a time of celebration.  Instead, Wall Streeters have begun slinking into shadows, afraid to identify themselves.  They don’t understand the … Continue reading 120th Birthday

A Glass Half FULL


There are bears and bulls, of course.  However, my experience is that there are fewer bears and bulls than expected but more perma-bears and perma-bulls than expected.  In other words, some observers never change their view, e.g., they always think the stock market will rise or always think the market will fall.  Their opinion never … Continue reading A Glass Half FULL

Branding America


Nobody will ever say Donald Trump is not a great branding genius.  He easily branded Jeb Bush as “low-energy”, Cruz as “lying-Ted, Rubio as “little Mario”, and Clinton as “crooked Hillary.” However, the brand he built around himself is worth billions, probably 40% of his net worth.  He makes millions each year from others who … Continue reading Branding America

The Only Game In Town


Starting at 1400 hours or 2 PM yesterday, I’m sure the traders on the floor of the New York Stock Exchange were calling for motion-sickness bags, as the 200-point roller-coaster ride began. That’s when the Fed released their minutes from the last meeting of the FOMC or Federal Open Market Committee, which decides on changes … Continue reading The Only Game In Town

Advice 4 Young Advisors


Everyday, I receive emails from various firms that offer to teach me how to network and get referrals from centers-of-influence, such as attorneys, CPAs, and insurance agents.  My advice to young advisors is to hit the delete key. Over many decades of experience, I have received a handful of referrals from attorneys and exactly zero … Continue reading Advice 4 Young Advisors

Moderation In All Things


I like, enjoy, and respect Warren Buffett.  He is not an advocate of frequent trading, especially to time the market ups-and-downs, and he has said his favorite holding period for a stock is forever.  His comments are frequently cited as corroboration for the “buy-and-hold” approach to investing.  Unfortunately, this approach has become more than a … Continue reading Moderation In All Things

Uncertainty = Inflation ??


Back in the good old days (you know, the 1970’s), inflation was a real problem.  The solution to solve that problem depended on your economic dogma.  The Monetarists argued that inflation occurred when you had too many dollars chasing too few goods.  The goods available for purchase would soak up whatever dollars are available for … Continue reading Uncertainty = Inflation ??

Everybody A Victim


Every religion has been persecuted.  Some have been persecuted horribly on a huge scale, like the Jews.  Some have been persecuted for long periods, like the early Christians in the Holy Lands or, more recently, the 22 young men beheaded on a Libyan beach for being Christians.  Some persecutions have already receded in our Western … Continue reading Everybody A Victim

Bernie Sanders Is Right


Bernie Sanders and I share at least one attitude, i.e., neither of us trust Goldman Sachs.  Of course, one of us does respect the research department of that investment banking giant.  For example, here are some of their latest thoughts: 1.  The GDP of the U.S. will drop from 2.4% last year, to only 1.4% … Continue reading Bernie Sanders Is Right

Red Sky At Night


Because the spew of economic data is similar to drinking from a fire hose, it is helpful to focus on the most important data — employment.  If employment is improving, the economy cannot really be too bad. After a string of good employment reports, the April report released last week disappointed most analysts.  Of course, … Continue reading Red Sky At Night

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