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:

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 improve.The …

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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 – …

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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 …

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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 …

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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 …

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Inflation Monitor – 12.31.2019

By Rusty Guinn | January 8, 2020 | Comments Off on Inflation 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. All of our macro themes remain at depressed levels of cohesion and attention – in short, we think that risky asset markets are operating without a dominant narrative. However, there …

Read moreInflation Monitor – 12.31.2019

An Experiment

By Rusty Guinn | January 6, 2020 | 82 Comments

There is a chart I’ve been thinking about a lot lately, and I want to tell you about it. Before I do, I also wanted to show it to you, along with a simple request: Tell me what you think that it is. Put it in the comments if you’re a subscriber. If you’re not, …

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A Perfect Meme

By Rusty Guinn | December 31, 2019 | 11 Comments

Every day we run the Narrative Machine on the past 24 hours of financial media to generate a list of the most linguistically-connected and narrative-central individual stories. We call this The Zeitgeist and we use it for inspiration or insight into short-form notes that we publish a couple of times a week to the website. To receive …

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ET Live! – 12.19.2019

By Rusty Guinn | December 19, 2019 | Comments Off on ET Live! – 12.19.2019

Join us at 2PM ET on December 19th for the last 2019 edition of Epsilon Theory Live! for a lively – and live – discussion of the narrative intersection of politics and financial markets.

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An End to War!

By Rusty Guinn | December 17, 2019 | 5 Comments

The Long Now wouldn’t be complete without the Long War. And as with every other component of the Long Now, its supporting memes are intensely cynical.

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