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:

A New Road to Serfdom

By Rusty Guinn | January 24, 2020 | 0 Comments

There are many roads to serfdom, and they have all become faster and more perilous. We are walking down one of them now.

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ET Live! – 1.21.2020

By Rusty Guinn | January 21, 2020 | Comments Off on ET Live! – 1.21.2020

The Drum Major Instinct

By Rusty Guinn | January 20, 2020 | 10 Comments

On MLK, Jr. Day, we present an excerpt from a powerful and under-read sermon about status delivered to the Ebenezer Baptist Church.

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That Which We Call a Law School

By Rusty Guinn | January 16, 2020 | 11 Comments

More from the world of universities-as-guilds and the weird war between the merely rich and ultra-rich.

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Alpha/Beta Amnesiacs

By Rusty Guinn | January 10, 2020 | 0 Comments

We are emerging from the year end, so the language shared across financial media articles is performance language. How did stocks, markets, benchmarks, funds and strategies perform in 2019?

Frequent readers will recognize Gell-Mann Amnesia as a favorite topic here at Epsilon Theory.

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Credit and Debt Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on Credit and Debt Monitor – 12.31.2019

Access the Powerpoint slides of this month’s ET Pro monitors here. Access the PDF version of the ET Pro monitor slides here. Access the underlying Excel data here. The Q4 narratives promoting the idea of a ‘coming collapse’ in credit markets precipitated by leveraged loan markets has faded somewhat in attention and cohesion. Sentiment, likewise, has continued to …

Read moreCredit and Debt Monitor – 12.31.2019

US Recession Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on US Recession Monitor – 12.31.2019

Access the Powerpoint slides of this month’s ET Pro monitors here. Access the PDF version of the ET Pro monitor slides here. Access the underlying Excel data here. Any narrative about a US Recession at this point is complacent and confident about its absence as a risk to equity markets. The sentiment of articles has risen sharply – …

Read moreUS Recession Monitor – 12.31.2019

US Fiscal Policy Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on US Fiscal Policy Monitor – 12.31.2019

Access the Powerpoint slides of this month’s ET Pro monitors here. Access the PDF version of the ET Pro monitor slides here. Access the underlying Excel data here. No change in our view for several months: there is no Fiscal Policy, Deficit or Austerity narrative: “We are all MMTers now.” Our only noteworthy and novel observation is that …

Read moreUS Fiscal Policy Monitor – 12.31.2019

Trade and Tariffs Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on Trade and Tariffs Monitor – 12.31.2019

Access the Powerpoint slides of this month’s ET Pro monitors here. Access the PDF version of the ET Pro monitor slides here. Access the underlying Excel data here. Despite the recent erosion in attention and cohesion across all macro themes, we think it remains Common Knowledge that the Trade War is what matters to risky asset markets. Most …

Read moreTrade and Tariffs Monitor – 12.31.2019

Central Bank Omnipotence Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on Central Bank Omnipotence Monitor – 12.31.2019

Access the Powerpoint slides of this month’s ET Pro monitors here. Access the PDF version of the ET Pro monitor slides here. Access the underlying Excel data here. As with the other macro narratives we track central bank narratives have become highly diluted relative to prior periods, we think in large part as a result of the emergence …

Read moreCentral Bank Omnipotence Monitor – 12.31.2019