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.

Just Another Useful Tool – corrected


For reasons best understood by your neighborhood nerd, yesterday’s blog dropped the most important paragraph!?!  With apologies, the corrected blog appears below: While I have been a long-time advocate for exchange-traded-funds (ETFs), I never thought they could bake bread nor cure the common cold.  Yesterday, I attended a lecture entitled “Combating Fake News:  Why Exchange-Traded-Funds … Continue reading Just Another Useful Tool – corrected

Just Another Useful Tool


While I have been a long-time advocate for exchange-traded-funds (ETFs), I never thought they could bake bread nor cure the common cold.  Yesterday, I attended a lecture entitled “Combating Fake News:  Why Exchange-Traded-Funds Won’t Cause the Next Market Sell-off.”  I saw a great many graphs documenting that ETFs continue to grow during both bear and … Continue reading Just Another Useful Tool

What’s The Point?


In 1988, I completed my financial planning studies and proudly earned a CFP certificate.  Over all those years, I have enjoyed the prestige of being certified, even as the costs increased, the red tape mounted and the continuing education droned on.  Last summer, I was asked by Old Dominion University to teach the capstone course … Continue reading What’s The Point?

Lukewarm IPOs is Good News


I hate long-term bond funds.  I hate annuities.  And, I really hate IPOs (initial public offerings). IPOs happen when a private company wants to sell part of its ownership on a public stock exchange, like the NYSE.  (Of course, it begs the question of why would I want to sell part of my company when … Continue reading Lukewarm IPOs is Good News

A Plea for Healing


Bernice King once said “In my view, it was no accident that Nelson Mandela was chosen by God to lead the people of South Africa. There are very few people who could be imprisoned, kept away from their family and loved ones, and exit that same prison with such a powerful spirit of love and … Continue reading A Plea for Healing

Praying for Inflation


Imagine you make $100 thousand a year and then imagine carrying $322 thousand in debt.  You would probably be in trouble.  Fortunately, the interest rate on your debt is artificially low.  Now, think globally, where worldwide debt has reached $257 TRILLION, which is 322% of worldwide GDP. Some people see that as proof of profligate … Continue reading Praying for Inflation

The Wizard of Wharton


One of my favorite analysts is the affable Dr. Jeremy Siegel of Wharton.  In his last commentary, he doesn’t foresee any recession but thinks the stock market has gotten ahead of itself.  It is just going up too fast, and “trees never reach the sky.”  He recalls January of 2018 when the same thing happened, … Continue reading The Wizard of Wharton

The Danger of A Clever Thought


Logic is not always the same thing as truth.  Sometimes, logic is absurd. I have voted for numerous Libertarian candidates over the years.  Recently, I was talking with a long-time Libertarian friend.  He saw nothing wrong with arming school kids.  Anybody should be able to buy as many guns as they like and take them … Continue reading The Danger of A Clever Thought

Consistent With History?


The Bank of America has an interesting forecast.  The current bull run in the stock market resulted from the relatively-sudden easing of geopolitical tensions, a decision on Brexit finally, and confidence in the November election, as well as highly supportive central banks (Fed & ECB).  The Bank believes these problems are not over, but merely … Continue reading Consistent With History?

Annual Perspective


For faithful readers, my latest quarterly column for Inside Business can be found here:

In Praise of Ho-Hum


I enjoyed listening to pundits talking this morning about how boring the monthly “Jobs Report” was.  Compared to expectations of 160 thousand new jobs, only 145 thousand were created last month.  Big Deal!  The unemployment rate was unchanged at 3.5% — a 50 year low.  The U-6 level of under-employment dropped to 6.7% — a … Continue reading In Praise of Ho-Hum

Affable Predictions


Bob Doll is the chief equity officer for investment giant Nuveen.  For an investment strategist, he is remarkably humble and affable.  Each year, he makes 10 predictions and has a good track record.  With my comments in parenthesis, here are his 2020 predictions: The world avoids recession in 2020 as U.S. GDP grows over 2% … Continue reading Affable Predictions

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