Items stolen from Waterloo train (4)

I believe the answer is:

loot

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'items stolen' is the definition.
I can't tell whether this defines the answer.

'from waterloo train' is the wordplay.
'from' indicates the answer is hidden within the clue.
'LOOT' can be found hidden inside 'waterloo train'.

Can you help me to learn more?

(Other definitions for loot that I've seen before include "Steal (goods); money" , "Orton play; ill-gotten gains" , "Steal property (in war)" , "Plunder and ransack" , "Pillage; money" .)

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