An adjustable cut guide for use in resecting the end of a bone. The cut guide of the includes guide slots, the position of which may be adjusted to one of multiple guiding positions that guide a saw in making the anterior, posterior and/or chamfer cuts in the bone. The cut guide includes a base adapted to attach to the end of a bone and including an anterior end and a posterior end. First and second guide housings are coupled to the base and disposed adjacent the opposing anterior and posterior ends, respectively. Anterior and posterior guide members are rotatably coupled to the first and second guide housings, respectively. Each of the anterior and posterior guide members are rotatable about a guide axis and have a guide slot extending therethrough along the guide axis.