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.



There are seventeen little-known but terribly important minerals known as “rare earth minerals,” which are used for jet engines, missile guidance systems, electric car batteries, antimissile defense systems, satellites, cell phones, lasers, etc.  81% of all rare earth minerals are mined in China, and there is rising concern that China would use our dependence on … Continue reading Vulnerable

Like A Baby


Memorial Day is the most meaningful holiday of the year . . . but I hate it, because it is the only day of the year that I always cry. Yes, it is a colorful day, with red, white, and blue flags and balloons.  Politicians preening for votes behind red, white, and blue bunting.  Hopefully, … Continue reading Like A Baby

The Conceit of Choice


Carl Richards is a long-time financial planner and my favorite columnist for The New York Times.  (Truth-in-blogging:  I took his course on behavioral finance a few years ago and have been a fan ever since.)  In his latest book, he shares an interesting personal story, which I quote: Take my recent experience with my dog, Zeke.  … Continue reading The Conceit of Choice

One-Handed Clap


Kudo, Mr. President! There are two types of immigration:  legal and illegal.  Looking at legal immigration, there are two main categories.  One is family reunification, accounting for 66% of legal immigrants, and the other is “merit-based”, accounting for 12%.  The President has proposed the “merit-based” allocation be increased to 57% of legal immigrants, while reducing … Continue reading One-Handed Clap



In 19th century England, textile workers were threatened by the development of new automated textile equipment.  They rioted several times and destroyed many of the new machines.  They were called Luddites, which has come to mean anybody who is distrustful of new technology.  With respect to technology, there seems to be only two opinions – … Continue reading Not-Ready-For-Prime-Time

“The Big Four”


Carolyn McClanahan is both a medical doctor and a CFP(r) Professional.  I first met her at a NAPFA (National Association of Personal Financial Advisors) convention some years ago and have been a fan ever since.  She recently wrote about the importance of planners helping clients make “The Big Four” decisions. The first decision is when … Continue reading “The Big Four”

An Expected Slowdown – No Big Deal


The first quarter (Q1) of GDP was surprisingly strong at 3.2%.  This was higher than expected, due to two things.  One, imports dropped considerably, showing the impact of tariffs.  Two, inventories increased more than expected, also reflecting the build-up before tariffs took effect.  Only one person thought that growth rate was sustainable. The early second … Continue reading An Expected Slowdown – No Big Deal

Divided Loyalties ?


Recently, I attended a lecture by Raghuram Rajan, formerly chief economist of the IMF and the central banker of India and currently at the University of Chicago.  He spoke about his new book The Third Pillar, which argues a strong, long-lasting nation needs three pillars.  The first is efficient, effective government, along with a growing, … Continue reading Divided Loyalties ?

Who’s the Client ?


As we sit here, waiting for the next school shooting, it might be useful to consider the NRA’s deepest fear – allegedly – which is that the slippery-slope of responsible gun ownership leads to total confiscation of our weapons by “the” government.  Okay, let’s suppose that’s true and that gun ownership is outlawed. There are … Continue reading Who’s the Client ?

The Price of Truth


Larry Kudlow is my favorite Supply-side economist.  A long-time CNBC contributor, he is a gentleman, in the finest sense of the word.  He is a master at disagreeing agreeably.  I like him and respect him! Today, he is the President’s principle economic advisor and must help advance the President’s economic agenda.  Last weekend, he admitted … Continue reading The Price of Truth

The Approach of Doom ????


As I write this, the Dow is down about 700 points.  One of my favorite market sages pointed out this morning that “we’re only one tweet away from a new high!”  Yes, the market is just that volatile now and could turn around quickly (which means it is dangerous to short anything).  Obviously, the market … Continue reading The Approach of Doom ????

A Really Expensive Good Idea


Efficiency is a good thing, right? Is increased efficiency a good thing?  Depends on the price, of course. Blockchain is a digital platform where buyers and sellers can separately enter information, confirming each other’s info.  It will increase efficiency and reduce accounting costs, especially with international trade finance.  Therefore, “good guys” like it.  It is … Continue reading A Really Expensive Good Idea

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