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Ben Hunt

Ben Hunt

Co-Founder and CIO

 @EpsilonTheory

Ben Hunt is the creator of Epsilon Theory and inspiration behind Second Foundation Partners, which he co-founded with Rusty Guinn in June 2018.

Epsilon Theory, Second Foundation’s principal publishing brand, is a newsletter and website that examines markets through the lenses of game theory and history. Over 100,000 professional investors and allocators across 180 countries read Epsilon Theory for its fresh perspective and novel insights into market dynamics. As Chief Investment Officer, Ben bears primary responsibility for determining the Company’s investment views and positioning of model portfolios. He is also the primary author of materials distributed through Epsilon Theory.

Ben taught political science for 10 years: at New York University from 1991 until 1997 and (with tenure) at Southern Methodist University from 1997 until 2000. He also wrote two academic books: Getting to War (Univ. of Michigan Press, 1997) and Policy and Party Competition (Routledge, 1992), which he co-authored with Michael Laver. Ben is the founder of two technology companies and the co-founder of SmartEquip, Inc., a software company for the construction equipment industry that provides intelligent schematics and parts diagrams to facilitate e-commerce in spare parts.

He began his investment career in 2003, first in venture capital and subsequently on two long/short equity hedge funds. He worked at Iridian Asset Management from 2006 until 2011 and TIG Advisors from 2012 until 2013. He joined Rusty at Salient in 2013, where he combined his background as a portfolio manager, risk manager, and entrepreneur with academic experience in game theory and econometrics to work with Salient’s own portfolio managers and its financial advisor clients to improve client outcomes.

Ben is a graduate of Vanderbilt University (1986) and earned his Ph.D. in Government from Harvard University in 1991. He lives in the wilds of Redding, CT on Little River Farm, where he personifies the dilettante farmer that has been a stock comedic character since Cicero's day. Luckily his wife, Jennifer, and four daughters, Harper, Hannah, Haven and Halle, are always there to save the day. Ben's hobbies include comic books, Alabama football, beekeeping, and humoring Rusty in trivia "competitions".

Articles by Ben:

Going Gray

By Ben Hunt | October 1, 2014 | 0 Comments

Everything under the sun is in chaos. The situation is excellent. – Mao Zedong (1893 – 1976) Forget it, Jake. It’s Chinatown. – Chinatown (1974)…

Best of List

By Ben Hunt | September 26, 2014 | 0 Comments

I’ll have a new full-length Epsilon Theory note out early next week (“Going Gray”), but wanted to pass along two background points. First, a replay…

Finest Worksong

By Ben Hunt | September 15, 2014 | 0 Comments

Take your instinct by the reinsYou’d better best to rearrangeWhat we want and what we needHas been confused, been confused– REM, “Finest Worksong” (1987) The…

The Game of Thrones and the Game of Markets

By Ben Hunt | September 11, 2014 | 0 Comments

Two items for the mid-week. First, an invitation to attend a Salient Webinar I’ll be presenting next Thursday, September 18th at 2pm ET, titled: “The Game…

The Ministry of Markets

By Ben Hunt | September 8, 2014 | 0 Comments

– Actual conversation as I left a client meeting with a Salient colleague last Friday and we checked our phones… Colleague: Wow, looks like the…

The Name of the Rose

By Ben Hunt | September 1, 2014 | 0 Comments

If names be not correct, language is not in accordance with the truth of things.  ― Confucius, “The Analects of Confucius” (551 – 479 BC)…

An Ice Bucket Dilemma

By Ben Hunt | August 25, 2014 | 0 Comments

Something on the lighter side from Epsilon Theory today, as summer winds downs here in the last week of August. Most of us have seen videos galore…

One Little Old Russian Convoy

By Ben Hunt | August 15, 2014 | 0 Comments

You know what I’ve noticed? Nobody panics when things go “according to plan”. Even if the plan is horrifying. If, tomorrow, I tell the press…

Here We Go Again

By Ben Hunt | August 8, 2014 | 0 Comments

From an Epsilon Theory perspective, the scariest, most market risk-creating event of the past 48 hours had nothing to do with Iraq, nothing to do…

Fear and Loathing on the Marketing Trail, 2014

By Ben Hunt | August 5, 2014 | 0 Comments

I shared a dark suspicion that the life we were leading was a lost cause, that we were all actors, kidding ourselves along on a…