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.

R.I.P. Bill


Last Halloween, an old Army buddy killed himself.  Even though we hadn’t talked in almost thirty years, he was still a “buddy.”  Indeed, that expression – “old Army buddy” – is so loaded with meaning.  There is a certain bond between “old Army buddies,” not merely a bond between men but also a human bond … Continue reading R.I.P. Bill

Q3 Thoughts


For the first two quarters of this year, our economy was growing at a solid 6% annual rate.  However, it slowed to a mere 2% rate in the third quarter.  The drop from 6.7% in Q2 to only 2% in Q3 is a dramatic drop in demand.  Economists blamed the emergence of the Delta variant, … Continue reading Q3 Thoughts

Money and Power


I think the first time in my life that I ever felt small and weak was in 2010, while in Beijing on a tour with the Chamber of Commerce. Among other things, we learned about the Chinese law that all data is property of the government. One afternoon, I skipped the tour for an un-escorted … Continue reading Money and Power

Avoiding Good Stocks ?


Do good stocks make a good portfolio?  Not necessarily! One of the more difficult concepts for investors is that good stock selection is different than good portfolio management.  Just because a good company has a good stock, that does not mean it should be bought.  For example, a good pharmaceutical stock should not be bought … Continue reading Avoiding Good Stocks ?

Negative Class


My dog is not classy.  In fact, he has no class.  After all, he’s just a dog.  But zero class is still better than negative class! I was appalled when candidate Trump trashed a personal hero to me, the late Senator John McCain.  Now, I am appalled that the former President trashed another personal hero … Continue reading Negative Class

Q3 Column


For those who would like to read my quarterly column in “Inside Business,” you can find it here:

Fiduciary Nuances


Most scholars believe The Ten Commandments was written over 2,000 years ago.  However, I believe that, if lawyers and regulators had been writing it, they would still be writing and every tree on this planet would have already been converted to paper. During the Obama Administration, the “Fiduciary Standard” was adopted, and I was a … Continue reading Fiduciary Nuances



Sometimes, you have to push work aside, stop watching the news, prop your feet up and share someone else’s joy . . . When “Star Trek” was a new TV phenomenon, I appreciated the show’s originality but was not impressed by the “pretty-face-actor” William Shatner, playing Captain Kirk. After that role, he was forgettable in … Continue reading Joyous

Creative Rebirth


One of my favorite economists was Joseph Schumpter, who died 71 years ago.  In my opinion, his greatest contribution was his study of  “creative destruction,” which argued that good things happen when bad things happen.  Inefficient industries would be destroyed and replaced by new, more efficient ones.  You’ve probably already heard someone say that capitalism … Continue reading Creative Rebirth

Translation, Please!


Few subjects are more vexing than immigration.  My religious training is that we are obligated to feed and clothe the poor.  My military training makes me intolerant of rule-breakers.  My economic training asks how much money for how many people for how long before they start paying taxes?  However, my political experience tells me that … Continue reading Translation, Please!

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