[REPLAY] Collette Chilton – Humility and Loyalty at Williams College (EP.174)

Colette Chilton, a veteran Chief Investment Officer with extensive experience at Mass Prim, Lucent, and Williams College, shares insights into institutional capital allocation. The discussion centers on the evolution of endowment management, emphasizing the importance of maintaining a lean, high-conviction portfolio of approximately 60 managers. Chilton highlights the unique governance structure at Williams, which leverages alumni volunteers to provide unbiased, expert perspectives on manager selection. Key strategies include prioritizing fundamental, bottom-up research, maintaining liquidity to support operating budgets, and the necessity of humility and long-term trust in manager relationships. Chilton also reflects on the shift toward taking calculated risks with first-time funds and the critical role of maintaining a positive, resilient mindset when navigating market volatility and organizational challenges.