The Wagner Road Name

There is a popular section of the Wall Street Journal, called “Heard on the Street,” that shares “what Wall Street is talking about.” Our perspective, when it comes to great investment ideas, is that you can see it on the road before you hear it on the street. The most promising investment ideas come from the places where no one is looking; there can be extra value in identifying when the market is too pessimistic or too enthusiastic, but when the market doesn’t care is when we get the most excited.

The name is also a reminder of the places that have roads, rather than streets, where excess stimulation is rare and concentration is not interrupted. Less activity and fewer distractions leads to better decisions.