| (1898
- 1984) |
| Inducted: |
1982 |
| Region: |
Northeast |
| Industry: |
Finance
|
|
Edward Johnson II took over the management of the Fidelity Fund in 1943. He turned it into the nucleus of a financial empire. Johnson repudiated the prevailing notion that investments should be made in fixed-income securities and blue-chip stocks that produced little or no growth. His funds bought common stocks that were a notch or two below the blue-chips and were traded heavily. He later expanded into money-market funds and other new ventures. |
