Between degrees from Harvard College and Harvard Business School, Bruce Johnstone served two years in the US Navy as an officer on a destroyer and joined Fidelity Investments in 1966. From 1972-1990, he managed the Fidelity equity-income fund. During that period, the fund achieved a return of over 1100%, nearly twice that of the S&P 500. This return ranked Mr. Johnstone as the #1 equity-income fund manager in the nation for the 19-year period.