Scenic Route Investing by Wagner Road
Andrew WagnerInvestment stories inspired by taking the long way around. A Wagner Road Capital Management publication.
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 32 | Subscribers | Read | wagnerroadcm.substack.com |
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Latest Issues
Recent posts by this newsletter. Browse the email archive.
How to Build an Investment Philosophy (Part 1: The Five Investment Books)
My reading list is 11 pages long. It would be unreasonable to share the entire thing without any explanation for which books are worth reading and what value they bring. But it’s a common question, and it’s a subject that I love to talk abo...
My Best of 2025
I was planning to send a quarterly update, but I only posted two articles in the fourth quarter. So let’s look at the whole year. I’ll start with some statistics.
Fast-Casual is Fading Fast
This blog post could have been an update on Portillo’s, but other people have covered that already. Here’s a quick summary of the company’s challenges since I last wrote about it in April:
How to Bet After a Hot Market (Part 2: The Hype Stocks)
In January, I described 2024 as a “hot market” fueled by momentum and growth. My conclusion was a decision between two different types of bets, based on the continued growth of AI spending:
Authors
The writers behind this newsletter.
Author of The Economics of Online Gaming. Founder & CIO of Wagner Road Capital Management. I write about economics and investing, but nothing I write is investment advice.
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