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.

Creative Destruction


The late Austrian-born economist Joseph Schumpeter popularized the idea that good things can result from bad things and described it as creative destruction. When President Trump appointed Peter Navarro to the newly-created office as Trade Czar, AKA as Director of National Trade Council, I had mixed emotions.  He has the affable persona one would expect … Continue reading Creative Destruction

Desperately Dumb


What is it about dumb criminals that make them seem almost funny? Ponzi schemes are always described by the media as an example of the way unscrupulous financial advisors steal from their clients.  Actually, it is a way that really DUMB financial advisors steal from their clients for a period of time.   By its nature, … Continue reading Desperately Dumb

Peeking into 2021


When I enjoyed some graduate work at the Wharton School of the University of Pennsylvania, I especially enjoyed meeting Dr. Jeremy Siegel.  Shy, self-effacing, and slightly bumbling, he was the stereotypical professor . . . except he is also a brilliant investment strategist.  Here are some of his most recent observations.  Inflation will be picking … Continue reading Peeking into 2021

Thanksgiving 2020


I am thankful . . . to be born in America. I am thankful . . . to have good health. I am thankful . . . to have plenty of food. I am thankful . . . to have enough money. I am thankful . . . to have a wonderful wife. I am … Continue reading Thanksgiving 2020

Cool . . . again !


Shortly after President Trump became President, I recalled Barbara Mandrell’s 1981 classic “I was country when country wasn’t cool’. One of my degrees was in World Trade, where I was deeply steeped in the economic Principal of Comparative Advantage, which provides a logical, coherent basis for bilateral international trade and, by extension, multilateral trade.  I … Continue reading Cool . . . again !

More Fish In The Sea


The Senate should not approve the nomination of Dr. Judy Shelton to the Board of Governors of the Federal Reserve System. She has frequently expressed interest in returning to the gold standard.  If gold is pegged at $35/oz ,for example, our total money supply is a direct function of how much gold we have.  We … Continue reading More Fish In The Sea

Dumb Headlines


Imagine a newspaper headline that said “Clocks showed five o’clock twice yesterday.”  Well, duh . . . David Rosenberg is one of the most respected investment strategists on Wall Street.  He was interviewed by a magazine that carried the headline “There will be another big correction in the stock market.”  Well, duh . . . … Continue reading Dumb Headlines

Feeding the CCP . . .


If you have any gray hair, you’re probably unfamiliar with “TikTok” which is an app to upload and watch short videos, which are usually less than a minute and produced by millions of our friends and neighbors, mostly young friends and neighbors.  It has been in the news recently, because President Trump wants the app … Continue reading Feeding the CCP . . .

SPACing Investors


When a new company wants to sell some of itself, in the form of shares, to the general public, it normally does an Initial Public Offering (IPO).  This is a long, arduous process that is closely regulated by the Securities Exchange Commission (SEC).  Certain forward-looking projections are required, such as sales and expenses.  If any … Continue reading SPACing Investors

Concede . . . Please!


The mass media is mildly annoyed by privacy but is enraged by secrets.  We could not even keep the atomic bomb secret.  Now, we are asked to believe that many Democrats in many states conspired to defraud American voters.  I’m not saying Democrats are “above” that sort of thing, because neither Democrats nor Republicans are … Continue reading Concede . . . Please!

Dueling Ph.D.s


I try to seek out the Libertarian view on most issues and often agree with those views.  The current controversary over lockdowns is no exception.  The conventional wisdom is that lockdowns are effective tools to combat the coronavirus.  The Libertarian wisdom is explained in their new Great Barrington Declaration — that people are different and … Continue reading Dueling Ph.D.s

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