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.

Can We Talk?


Now that Special Counsel Robert Mueller has completed his study, I thank him for his service over the past two years.  And, I congratulate the President and his family on surviving that Inquisition. Having said that, in August of 2017, I wrote about the problem of writing, when Donald Trump has any tenuous link to … Continue reading Can We Talk?

Random Thoughts on Egypt


Egypt is a relatively large country, with a population approaching 100 million.  Tourism is its leading industry, employing one of every seven Egyptians.  The Nile region is also a major agricultural producer.  It is the only non-OPEC oil producer in the Mid-East.  After passing South Africa last year, Egypt is now the fastest growing economy … Continue reading Random Thoughts on Egypt



I believe in Modern Portfolio Theory (MPT), which is the investment philosophy of virtually all institutional money managers in this country.  This Nobel Prize-winning theory found that a portfolio can achieve higher returns with lower risk – the “Holy Grail” — by allocating the portfolio across many asset classes, such as big company stocks, small … Continue reading MPT & MMT

A Voice From 2009


Ron Pearson is a long-term friend, a retired financial planner, as well as a retired Navy fighter pilot.  Ten years ago, he wrote about the sad state of Social Security.  With his permission, I’m republishing it here – to show how the problems of Social Security are not new, and that we have been writing … Continue reading A Voice From 2009

Definition of Idiocy


I have a great deal of respect for Ric Edelman, who was one of the financial planning pioneers in the Washington area.  Having done well, he is now focused on doing good.  He sees the greatest medical disaster approaching us as the rising cost of Alzheimer’s disease, and I have no reason to disagree with … Continue reading Definition of Idiocy

Wrong Deficit


The December trade deficit was the highest in ten years.  The hand-wringing was immediate and painful.  You’ll recall the President campaigned hard that he would cut that deficit in half.  However, we should give the President a pass on this promise.  The deficit for that one month was not too worrisome, given we’re in the … Continue reading Wrong Deficit

Parsing Socialism


In the last century, when I took my first course in economics, I learned that socialism was an economic system calling for public ownership of the major means of production and transportation.  The important point was that it was an economic system, not a political system.  Today, Wikipedia describes it as: Socialism is a range of economic and social … Continue reading Parsing Socialism

Double Expresso?


The conventional wisdom is that the economy and the stock market move together.  In the long run, that is true but not always in short run.  This is one of those times, when the stock market is doing too good! At first blush, Wall Street cheered when the Q4 GDP growth showed 2.6%, considerably better … Continue reading Double Expresso?

Just Dumb!


I’m a gun-lover.  I have lots of guns.  I was even a member of the National Rifle Association, until they went crazy. The Kentucky legislature is dumb!  They just legalized any 21-year-old loser, who hasn’t been convicted of a crime yet and who hasn’t been declared crazy yet, to carry a concealed weapon in that … Continue reading Just Dumb!

The Sky Is Falling


Thomas Robert Malthus (1766-1834) was an Englishman and one of the first economists.  However, as a result of his work, economics was often described “the dismal science.”  He concluded that mankind was doomed to war and starvation, because population increases faster than food production.  When population exceeded food, there would be enough war to bring … Continue reading The Sky Is Falling

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