House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing - Paperback

by Justin Baer (Author)

The gripping, definitive account of the private family behind one of the most powerful financial institutions in the world.

"Pulls the curtain back on one of the country's most powerful and mysterious financial institutions ... It's a must read." ―William D. Cohan, New York Times bestselling author of Power Failure

When Edward C. Johnson 2d founded Fidelity in 1946, investing was a pursuit reserved for the elite. Today, more than $15 trillion flows through Fidelity's customer accounts and investment funds--touching the lives of one in five American adults. Fidelity helped invent modern retail investing: democratizing access to mutual funds, introducing the 401(k), and upending the need for traditional brokers. But behind the scenes of this financial juggernaut is a family saga unlike any other.

In House of Fidelity, veteran journalist Justin Baer tells the definitive story of the Johnsons--a New England dynasty that fiercely guarded control of their company while reshaping Wall Street. From the founder's bold leap into Boston's insular investing circles, to the meteoric rise of Peter Lynch, to behind-closed-doors battles over succession and legacy, Baer reveals a company and a family locked in a delicate balance of innovation, influence, and internal power struggles.

House of Fidelity is a sweeping history of American investing--and the dynasty that came to define it.

Author Biography

Justin Baer is an award-winning journalist and an editor for The Wall Street Journal. In a career that includes stints at the Financial Times and Bloomberg News, he has covered almost every significant financial event over the past two decades, including the dot-com bubble, the 2008 financial crisis and the economic fallout from the pandemic. Along the way, Baer has chronicled the ups and downs of such major institutions as Goldman Sachs, J.P. Morgan Chase, Citigroup and Warren Buffett's Berkshire Hathaway.