Thursday, March 22, 2018


Dear Investor,

Welcome to the Bread & Butter Fund website. 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:

  • The Fund Adviser will function as an Independent Investment Adviser. The Fund’s Manager, James B. Potkul (age 47) is committed to the Fund for the long-term.

  • The President and Portfolio Manager along with the independent Chairman of the Board own a significant stake in the Fund. We will invest with our investors.

  • The Adviser will adhere to a disciplined Contrarian/Value Investment Strategy by buying out of favor securities whose true value is yet to be appreciated. We will avoid fads and speculative behavior as performed by following a herd mentality.

  • The Fund will be managed in a tax sensitive manner by minimizing transactions and asset turnover.

  • The Adviser and the Board will work diligently at every opportunity to lower Fund expenses overtime as asset levels grow.

  • The Fund will only seek long-term investors while discouraging short-term speculators and market timers that would be in opposition to our Contrarian/Value Strategy.

  • The Fund’s Adviser will be proactive in dealing with corporations by defending the rights of investors when necessary as it relates to individual securities that are being held in the Fund.
I invite you to look over the website and review the prospectus carefully so you may learn more about the Bread & Butter Fund. I appreciate your interest and consideration in the Fund.


James B. Potkul
President/Portfolio Manager
Bread & Butter Fund Inc.