Rusty Guinn

Co-Founder and CEO

 @WRGuinn

Rusty Guinn is co-Founder and CEO of Second Foundation Partners, LLC, and has been a contributing author to Epsilon Theory since 2017.

Before Ben and Rusty established Second Foundation, Rusty served in a variety of investment roles in several organizations. He managed and operated a $10+ billion investment business, led investment strategy for the second largest wealth management franchise in Houston, and sat on the management committee of the 6th largest public pension fund in the United States.

Most recently, Rusty was Executive Vice President over the retail and institutional asset management businesses at Salient Partners in Houston, Texas. There he oversaw the 5-year restructuring and transition of Salient’s $10 billion money management business from legacy fund-of-funds products to a dedicated real assets franchise.

He previously served as Director of Strategic Partnerships and Opportunistic Investments at the Teacher Retirement System of Texas, a $12 billion portfolio spanning public and private investments. Rusty also served as a portfolio manager for TRS’s externally managed global macro hedge fund and long-only equity portfolios. He led diligence, process development and the allocation of billions of dollars across a wide range of indirect and principal investments.

Rusty’s career also includes roles with de Guardiola Advisors, an investment bank serving the asset management industry, and Asset Management Finance, a specialized private equity investor in asset management companies.

He is a graduate of the Wharton School, and lives on a farm in Fairfield, Connecticut with wife Pam and sons Winston and Harry. He serves as a member of the Board of Directors of the Houston Youth Symphony, and with Pam has been a long-time supporter and founding Friend of the Houston Shakespeare Festival. He plays guitar and drums on the worship team at his church in Connecticut, and dabbles in cooking, whisky, progressive rock and beating Ben at trivia.

Articles by Rusty:

The Miracle Max of MBS

By Rusty Guinn | March 30, 2020 | 2 Comments

Sometimes investors and corporate executives will beg for a miracle to bring mostly dead assets back to life. That’s OK. But we don’t have to give it to them. And we don’t have to treat their requests as news in themselves.

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When the Story Bends

By Rusty Guinn | March 24, 2020 | 9 Comments

Saying that “America needs to reopen for business” isn’t the same thing as doing what we need to reopen America for business. Words matter, but actions matter more.

Let’s do the right things. Now.

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Pandemic Playbook Notes – 3/23

By Rusty Guinn | March 23, 2020 | Comments Off on Pandemic Playbook Notes – 3/23

We update our thinking based on the framework we published on 3/17, especially in two areas with active changes in narrative structure: fiscal and monetary policy responses.

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The Non-Linearity of Need, Pt. 2

By Rusty Guinn | March 19, 2020 | 14 Comments

Let’s make this Our Finest Hour. From the bottom up.

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Our Escape Story

By Rusty Guinn | March 18, 2020 | 10 Comments

When people stop asking “How much worse is this going to get” and start asking “How much longer is this going to last”, things really start changing.

But we can change that, too.

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Pandemic Playbook – 3/17

By Rusty Guinn | March 17, 2020 | Comments Off on Pandemic Playbook – 3/17

After a few weeks of historic market volatility, we reexamine the framework we would use to think about the implications of Covid-19 and the mitigation response for multi-asset portfolios.

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Margin Call

By Rusty Guinn | March 16, 2020 | 7 Comments

Levering up a portfolio based on a model that we know cannot act as a representation of the state of the world is perilous.

Doing the same with a country is far, far worse.

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Lack of Imagination

By Rusty Guinn | March 14, 2020 | 27 Comments

The structurally bullish will warn us against failure of nerve. The traders will warn us against hesitation. The structurally bearish will warn us about being unable to shift into a defensive shape. But what we should be worried about now is a lack of imagination.

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First-Level Foolishness

By Rusty Guinn | March 12, 2020 | 2 Comments

There’s a lot of first-level thinking going on, and navigating the transition from uncertain markets back to risky markets means avoiding their pitfalls in our portfolio and risk management processes.

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ET Live! – 3.10.2020

By Rusty Guinn | March 9, 2020 | Comments Off on ET Live! – 3.10.2020

Covid-19 is a fertile ground for narratives and missionaries of all kinds – from politicians to central banks, corporate leaders and financial media pundits. Join us as we discuss them.

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