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.

Buckle Up

09/15/2021

September is usually the worse month of the year for the stock market.  But, the worse week of the year is usually the week in September having the third Friday.  Grab your calendar and you’ll see that we’re right now in the middle of worse week all year, historically.  One reason is that the “triple … Continue reading Buckle Up

Current Thoughts on Crypto-Currency

09/13/2021

I have never seen much value to crypto-currencies like bitcoin, except for criminals and speculators.  However, the collapse of Afghanistan has demonstrated other uses.  Importantly, crypto-currencies are easier to hide from the Taliban than Dollars.  In addition, crypto-currencies allow Afghan citizens in the U.S. to send spendable money to family remaining in Afghanistan without governmental … Continue reading Current Thoughts on Crypto-Currency

The Persistence of Memory

09/10/2021

For twenty years, I have remembered September 11th as the day when I watched the Pentagon burning from my fifth floor office, as the wind pushed the smoke into my wife’s office on the Potomac.  Including the World Trade Center, 2,996 Americans died that day. For eighty years, elderly Americans have remembered the sneak attack … Continue reading The Persistence of Memory

August Confidence

09/02/2021

In early August, the University of Michigan Index of Consumer Sentiment crashed to a ten-year-low.  Not surprising as consumers were weighed down by the Covid surge, rising concern over possible inflation, the fragility of our supply chain, and the painful images of our troops leaving Afghanistan.  It was a depressing month. In late August, the … Continue reading August Confidence

A Pox On R’s and D’s

08/28/2021

I have voted for Republicans, and I have voted for Democrats, but I’ve never been as disgusted with both as I am right now. Imagine you’re attending the wake or memorial ceremony for your spouse.  As you’re sitting there, with your head bowed, when someone barges into the sanctuary and screams “it is all your … Continue reading A Pox On R’s and D’s

What, Me Worry ?

08/28/2021

We’re living during interesting times.  We just learned that GDP growth during the second quarter was a sizzling 6.6% — even better than expected.  Corporate profits surged 9.2% — also much better than expected.  It’s not surprising that the stock markets keep setting new record highs.  What, me worry? The Grim Reaper called Covid still … Continue reading What, Me Worry ?

Socratic Conversation?

08/23/2021

If the first casualty of military warfare is the truth, then the first casualty of partisan warfare is academic debate. Maybe, the Socratic approach won’t offend. . . ? Assuming Ronald Reagan was correct that America is that shiny city on the hill, does that mean non-Americans will want to be there ? If continued … Continue reading Socratic Conversation?

What’s the Point ??

08/20/2021

Let’s say you have two neighbors.  Neighbor #1 picks up a baseball bat and hits neighbor #2, before handing the bat to the neighbor he just hit.  Neighbor #2 takes the bat and hits neighbor #1, before handing the bat back to neighbor #1.  As they continue to hit each other, do you think they … Continue reading What’s the Point ??

Old Theories Never Die . . .

08/16/2021

Famed World War II General Douglas MacArthur said “Old soldiers never die.  They just fade away.”  The same can be said about old theories. In 1986, three professors named Brinson, Hood, & Beebower (BHB) published a research paper entitled “Determinants of Portfolio Performance.”  They showed 93.6% of a portfolio’s performance was determined by the asset … Continue reading Old Theories Never Die . . .

That Final Walk

08/12/2021

One of my long-running complaints with the financial planning profession is that it has become too academic.  If planners spent less time memorizing IRS Code sections and more time looking into the eyes of their clients, it would be a better world. Estate planning is the most stark example – full of tax and probate … Continue reading That Final Walk

Just Economics?

08/04/2021

 My Republican-friends like to blame everything on the mainstream media.  My Democratic friends like to blame everything on greedy, rich “fat-cats”.  They’re both wrong! My Republican-friends see the immigration problem as a bunch of lazy, disease-ridden derelicts trying to milk American generosity.  My Democratic friends see the immigration problem as a bunch of poor, miserable, … Continue reading Just Economics?

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