FYI: No the Linkster isn't talking about the essentials of making a sandwich. What I talking about is a very bad mutual fund BABFX. James Potual , Manager, of the Bread & Butter Fund has the distinction of keeping the fund in the 100 percentile for the last ten years at an ER. 2.3%, meaning that for every thousand dollars you entrusted to Mr. Potkul it cost you $23.00. The funds number one holding 14% is in BRK-B which shows Mr. Potkul ability to look under the rocks and find those hidden gems. On top of the outrages expense ratio he keeps 34% of the funds assets in cash waiting, and waiting, and waiting for Armageddon.
On the funds website Potkul has this to say about the fund. "The establishment of this Fund has taken years and has been well researched. My extensive experience in financial investing and research has given me a deep perspective of the characteristics of establishing and managing a successful fund. This Fund is a culmination of these life experiences. The Board of Directors and I have made the following commitment."
In a November 2013 Bloomberg article he had this to say. Almost everything in the equity market is rising, which worries Jamie Potkul, chief investment officer of the Bread & Butter Fund. About 450 stocks in the S&P 500 are up this year, making it the broadest rally in at least two decades. That’s left investors with fewer buying opportunities than during the technology bubble in 2000, when the rally was propelled by an ever-shrinking pool of dot-com stocks, Potkul said. At year end his fund was up 19.23%, while the S&P 500 registered a return of 32.39%.
BABFX Website:
http://www.breadandbutterfund.com/M* Snapshot BABFX:
https://www.morningstar.com/funds/xnas/babfx/quote.htmlLipper Snapshot BABFX:
https://www.marketwatch.com/investing/fund/babfx
