Podcast
Tokens of Wisdom
Hosted by Dave Rothschild · EN
Do you love investing? Ever thought about turning that passion into a business? Listen up to learn to navigate the legal loopholes in forming, launching, and running a private investment fund, including considerations unique to digital asset/crypto funds. Dave Rothschild is a partner at Cole-Frieman & Mallon, one of the country's premier boutique investment management law firms with deep experience in traditional assets, as well as esoteric asset classes like digital assets. For questions or comments, email tow@colefrieman.com. Visit our website: https://colefrieman.com
16episodes
Episodes
Newest firstAll episodes
Episode 76: SF Gross Receipts Tax with Kevin Leiske, Cole-Frieman & Mallon
Dec 1500:20:10Tap to summarizeEpisode 76: SF Gross Receipts Tax with Kevin Leiske, Cole-Frieman & Mallon On the very first Intrasquad edition of Tokens of Wisdom, my partner Kevin Leiske joins the show to tell us about recent changes to San Francisco’s gross receipts tax. Spoiler alert: even if you are an investment manager with zero operations in SF, the City is trying to extract its pound of flesh from any SF-based LPs. Key Points From This Episode: What is a gross receipts tax? What is changing about SF’s gross receipts tax that might matter to asset managers?Does this apply to management fees and incentive allocations?How do I know if an investor is an SF resident?Will my tax preparers know to do this? Do we know how the city will enforce this? Disclaimer: This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/ Links Mentioned in Today’s Episode: Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Kevin Leiske - https://www.linkedin.com/in/kevin-leiske-2a717b4/ Cole-Frieman & Mallon LLP - https://colefrieman.com/Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Transcribe →Episode 75: Cayman Directors with Darragh Murphy, Marfire
Dec 900:43:04Tap to summarizeEpisode 75: Cayman Directors with Darragh Murphy, Marfire Darragh Murphy from Marfire joins me in the Tokens of Wisdom Studio to tell us all about the wonderful world of Cayman fund directors. From choosing the right director, to working with them once chosen, to navigating the complexities across a fund’s lifecycle, Darragh shares the wisdom. Key Points From This Episode: What is the role of an independent director in the Cayman funds space? Does engaging an independent director mean I am losing control of my fund? Does my Cayman fund always need an independent director? How do you approach conflicts of interest in your role? What’s your role in AML and KYC compliance? How do you handle situations when a fund is in distress?How should I choose the right director? What’s the smartest thing a new fund manager can do? Disclaimer: This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/ Links Mentioned in Today’s Episode: Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Darragh Murphy - https://www.linkedin.com/in/darragh-murphy-cta/ Cole-Frieman & Mallon LLP - https://colefrieman.com/Marfire - https://www.marfire.co/ Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Transcribe →Episode 74: Cayman Funds with Patrick Colegrave, Forbes Hare
Nov 2500:38:35Tap to summarizeEpisode 74: Cayman Funds with Patrick Colegrave, Forbes Hare Patrick Colegrave joins me in the Tokens of Wisdom Studio to discuss all things Cayman funds. From local regulatory requirements to investor expectations to setup costs, Patrick covers the ins and outs of Cayman fund formation. Key Points From This Episode: Why should I choose Cayman over BVI (or should I?)?Does my Cayman fund always need to register with CIMA?What does the formation process cost/involve?What are the most common entity types for Cayman fund vehicles?Is there a specific type of entity that works best for specific types of fund?Local regulatory requirements for a Cayman fund.How should I choose the right offshore counsel? Disclaimer: This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/ Links Mentioned in Today’s Episode: Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Patrick Colegrave - https://www.linkedin.com/in/patrickcolegrave/ Cole-Frieman & Mallon LLP - https://colefrieman.com/Forbes Hare - https://forbeshare.com/ Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Transcribe →Episode 73: Prime Brokerage with Harry Shillingford, Marex
Nov 1300:34:40Tap to summarizeEpisode 73: Prime Brokerage with Harry Shillingford, Marex My old pal Harry Shillingford from Marex joins me in the Tokens of Wisdom Studio to talk about the intricacies of prime brokerage. We delve into scintillating topics like “what does a prime broker actually do?” (answer: a lot) and “should I draw fund inspiration from Field of Dreams?” (answer: no). Harry also shares some serious wisdom on budgeting and choosing the right broker. Key Points From This Episode: Difference between an introducing broker and a prime broker.What kinds of services do PBs provide?What’s involved in cap intro? What’s involved in outsourced trading?When might I think about engaging an outsourced trader?How do I choose the right broker for my fund? Disclaimer: This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/ Links Mentioned in Today’s Episode: Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Harry Shillingford - https://www.linkedin.com/in/harry-shillingford-527745b/ Cole-Frieman & Mallon LLP - https://colefrieman.com/Marex - https://www.marex.com/ Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Transcribe →Episode 72 - The Main Event
Oct 2400:04:27Tap to summarizeA special episode that has nothing to do with funds or law and everything to do with baseball glory.
Transcribe →Episode 25: Hurdle Rates
Oct 30, 2023Tap to summarizeBuilding off our last episode’s discussion of performance allocations and high water marks, today we’re tackling hurdle rates. If you need more background on today’s topic, listen to Episode 24 first.Key Points From This Episode:What is a Hurdle Rate and how does it work?(Not so) surprising fact about Olympic gold medals.Hard hurdle rate vs Soft hurdle rate.Illustrative examples.Disclaimer:This show is for informational purposes only. Nothing presented here constitutes legal advice. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/Links Mentioned in Today’s Episode:Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Cole-Frieman & Mallon LLP - https://colefrieman.com/Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
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