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.

Negative Partisanship

10/30/2019

I love reading anything by George Will.  He neither thinks nor writes in cliches.  He has long been a serious conservative thinker and was a frequent contributor on Fox News, back when it was a reliably conservative news network. His most recent column is “What if hate is stronger than party affiliation?”  He discusses the … Continue reading Negative Partisanship

2 + 2 = 3

10/29/2019

Something doesn’t add up?  Generally speaking, when people put more money into the stock market, it goes up.  When people take money out of the stock market, it goes down.  According to Bank of America, investors are now the most bearish they’ve been since 2008.  In fact, they’re withdrawn $322 billion from the market in … Continue reading 2 + 2 = 3

A Real Hero

10/28/2019

Because I have such great respect for General Jim Mattis, a good friend bought me a copy of Mattis’ latest book, Call Sign Chaos.  He was the first Secretary of Defense under President Trump, lasting almost two years before resigning in protest.  The title of this book comes from the humorous acronym given to him … Continue reading A Real Hero

Boorish Behavior

10/27/2019

I found myself having dinner with five other men one night last week.  Five of us had gray or white hair.  One had long, oily blonde hair that curled over his collar.  His expensive but too-large clothes reeked of cigarette smoke.  He offered up a bottle of Napa red by VGS that was indeed very … Continue reading Boorish Behavior

Taxing Wealth ?

10/25/2019

Classical economists teach “If you want more of something, subsidize it.  If you want less of something, tax it.”  Theoretically, if you subsidize something, the price will drop and customers will buy more.  If you tax something, it costs more and customers will buy less.  Does that mean, if you tax wealth, you’ll have less … Continue reading Taxing Wealth ?

An Eighteen Year Long Tunnel

10/24/2019

Coming from a religiously conservative family, my Army experience helped me to see other perspectives.   Eventually embracing existentialism, the world started to make sense again.  Not surprisingly, existentialism has flourished following World War II, with a brief resurgence after both Korea and Vietnam. As a refresher, existentialists believe that society obsesses over death, which is … Continue reading An Eighteen Year Long Tunnel

Stock Buybacks

10/23/2019

What should corporations do with their profit?  They can use it to increase cash on their balance sheet, which increases the book value per share.  Or, they can use the cash to reduce debt, which also increases the book value of their stock.  Or, they can use it to pay bonuses to executives and employees.  … Continue reading Stock Buybacks

More Precise Questions

10/20/2019

The most common question asked of economists is . . . “are we going into a recession?”  The answer is yes, of course — because there is always a recession somewhere in our future.  The question they’re really asking is . . . “when will we feel the pain of a recession.” Economists have very technical … Continue reading More Precise Questions

Bad Choice

10/19/2019

I have often agreed with the actions of President Trump. Often with joy, if never delirious with joy. Then, he betrayed the Kurds. My stomach is sick, and my heart hurts. Imagine the Special Forces betraying the Monteyards of Vietnam. I don’t know whether to vomit or to cry . . .

Hospice Misconceptions

10/15/2019

I served on the regional board for the National Association of Personal Financial Advisors (NAPFA) with Holly Donaldson and have great respect for her.  Below, I have copied her excellent latest article in LinkedIn on a very difficult subject. The Hospice Decision: Sooner, or Later? 4 Misconceptions Published on October 14, 2019 Holly Donaldson, CFP®, … Continue reading Hospice Misconceptions

I Was Wrong

10/14/2019

It was March 21, 2017 that I predicted Donald Trump would not serve a full 4-year term.  I didn’t expect him to leave by impeachment, but by resignation, like Richard Nixon.  That opinion reflected the thinness of his skin, but I was wrong.  Constant attack normally encourages resignation.  However, the chaos around him only seems … Continue reading I Was Wrong

I Was Wrong

10/14/2019

It was March 21, 2017 that I predicted Donald Trump would not serve a full 4-year term.  I didn’t expect him to leave by impeachment, but by resignation, like Richard Nixon.  That opinion reflected the thinness of his skin, but I was wrong.  Constant attack normally encourages resignation.  However, the chaos around him only seems … Continue reading I Was Wrong

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