Justin Baer - House of Fidelity

About this episode

The episode discusses the history and impact of Fidelity through the lens of Justin Baer's book on the Johnson family dynasty.

How did one family build Fidelity into one of the most powerful forces in American investing, and what allowed it to endure across three generations? In the latest episode of A Book with Legs, Smead Capital Management CEO and Portfolio Manager Cole Smead and Analyst Will Keenan sit down with journalist and author Justin Baer to discuss his book, titled "House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing." Cole and Will explore the 80-year rise of Fidelity with Justin, tracing three generations of the Johnson family and the various investing styles of Fidelity leadership throughout the years. They also discuss the closed-door battles that shaped the firm's direction, the rise and legacy of Peter Lynch, and what this story tells us about active management businesses that last. 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…

People in this episode

Hosts: Cole Smead, Will Keenan

Guest: Justin Baer

Topics covered

• Fidelity
• investing
• Johnson family
• active management
• financial journalism

Keywords

• Fidelity
• Johnson family
• investing styles
• Peter Lynch
• active management

Mentioned in this episode

Organizations: Fidelity, The Wall Street Journal, Financial Times, Bloomberg News, Goldman Sachs, J.P. Morgan Chase, Citigroup, Berkshire Hathaway

Books & works: House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing

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