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:

Actually Maybe Not So Excellent

By Ben Hunt | August 11, 2015 | 0 Comments

Everything under heaven is in chaos; the situation is excellent. ― Mao Zedong (1893 – 1976) A quick email on China’s currency devaluation last night.…

“Suddenly, Last Summer”

By Ben Hunt | July 29, 2015 | 0 Comments

A quick Epsilon Theory email and a quick announcement. Announcement first. I’ll be giving a 1-hour webcast on Risk Premia strategies next Tuesday, August 4th,…

The New TVA

By Ben Hunt | July 23, 2015 | 0 Comments

War is too important to be left to the generals. – Georges Clemenceau (1841 -1929) Competition has been shown to be useful up to a…

1914 is (still) the New Black

By Ben Hunt | July 6, 2015 | 0 Comments

There are decades where nothing happens; and there are weeks where decades happen. – Vladimir Lenin (1870 – 1924)  In 1914, Europe had arrived at…

1914 is the New Black

By Ben Hunt | June 29, 2015 | 0 Comments

Man in Black: All right. Where is the poison? The battle of wits has begun. It ends when you decide and we both drink, and…

Inherent Vice

By Ben Hunt | June 22, 2015 | 0 Comments

Want to get hours of your week as a professional investor back? Want to reduce pointless portfolio activity and bad use of time with clients? Stop predicting games of chicken.

Two Growth Announcements and One Not So Much

By Ben Hunt | June 10, 2015 | 0 Comments

I’m with you in Rockland where we are great writers on the same dreadful typewriter. – Allen Ginsberg, “Howl” (1956)  Give me a long enough…

Sometimes a Cigar is Just a Cigar

By Ben Hunt | May 22, 2015 | 0 Comments

More on Information Theory.

More Probable Than Not

By Ben Hunt | May 11, 2015 | 0 Comments

The only thing that I ask from this group today and the American people is to judge me from this day forward. That’s all I…

The Talented Mr. Ripley

By Ben Hunt | April 27, 2015 | 0 Comments

The more I practice, the luckier I get. – Gary Player (b. 1935) Luck is the residue of design. – Branch Rickey (1881 – 1965) I’ve…