Muhammad Wahdy
About Me
Muhammad Wahdy is a long/short equity Portfolio Manager covering technology. As portfolio manager, he leads his team of analysts covering companies within the software, hardware, and internet sectors along with day-to-day portfolio and fund operations. Based in San Francisco, he has over 10 years of experience in public equity investing, portfolio strategy, and markets previously at bulge bracket investment banks and large asset managers.
Why am I doing this and why should you subscribe?
I’m launching this blog primarily to build a community of experts where I can run surveys to develop my own thinking and understanding of critical factors impacting the companies I cover.
In exchange, I can provide value around the names that I cover through discussing investment opportunities around them (in our view, where we most likely have a position in / skin in the game), the evolution of broader sector themes, and the distillation of key variables either in macro or fundamental KPIs. The primary format would be through investment memos and periodic industry or vertical notes. In addition, the results of the surveys I run will be shared with paid subscribers.
Expert networks are a big business and, if you are an expert, I recommend you sign up for GLG/Tegus/Guidepoint, etc. to supplement your existing income. But please first subscribe and be part of my network!
No MNPI.
Background
Growing in up California around SF and Silicon Valley made my extremely aware of the technology companies that exist across the spectrum. Most of my friends, personal and of family, are part of the tech ecosystem, which made talking about everything from the latest semiconductor development, cloud application, or consumer internet trend par for the course. Dinner parties, fun outings, and general chit chat frequently revolved around tech stocks, the markets, and what was going to happen next. Maybe I would have been a theater kid had I grown up in New York or LA, but being from the SF Bay Area, tech investing has been a natural fit.
Investment Philosophy
I start with the same core facets everyone looks at: business fundamentals, valuation, and estimates. I then add my own unique approach by going deeper on the things that matter and by adding in a Bayesian element that drives my own view of estimates and revisions to them. I mean Bayesian in a Keynesian — new information that is incremental to the thesis should impact my understanding of the estimates.
And then when I understand the stakes involved for a company, I put on my scuttlebutt hat and get to work on fleshing out a mosaic that ultimately will inform my view. Every company we cover, through every quarter, follows a similar research arc.
Vision
My goal is to scale our strategy and research approach to the nearly two thousand publicly traded technology companies worldwide. It’s a big ambition but I’m here for the long-run. I think there’s space for a sector focused multi-manager hedge fund because there’s a big range of duration risk. Some companies have goals and targets reachable in the visible future while others won’t even generate revenue for a few years. Long only asset managers have done a great job of covering broad swathes of this, but the opportunity to capture spread is immense.
Advice
I still feel young enough in my career that I don’t feel super qualified to give advice. However, if you want to break into long/short investing, or just be a good investor, the advice would be to cover companies that you naturally gravitate towards. And then from there, to prioritize original source material. Sell side research and AI are great supplements, but independence and critical thinking are the most valuable skills you can develop.
Sample Views
Note: We admit we are not always right and that it is hard to determine skill from a small sample. We are not making a claim to skill, just to the pursuit of market leading returns.
Example of Macro thinking: Macro Note - Oct 2025 - Muhammad Wahdy
Example of thesis development: Meta July 2026 (pdf below)
PS: I want to connect with you!
If you are a professional investor / market participant, work in technology or VC, consulting, or any business that touches technology I would love to expand my network of thoughtful people.
The best way to message me is through IB / email (wahdy at wahdycapital dot com) or to add me on LinkedIn. You can also follow me on youtube.
I have uploaded a few youtube videos of analyst intern calls (we do a quarterly internship/training program for students and investors). Note: these videos are extremely raw and include discussions on live positions and ideas that may no longer be held.
Disclaimer:
The information, comments, and views provided by Wahdy Capital or Muhammad Wahdy on this platform are for educational and informational purposes only, and should not be construed or interpreted as financial advice, or as an endorsement, recommendation, or solicitation to buy or sell any securities or related financial instruments.
The views expressed are based on my own professional experience and understanding of the financial markets, but they do not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual readers. Therefore, all readers are strongly encouraged to consult with a licensed financial professional or conduct their own comprehensive research before making any investment decisions.
Investing involves risk and possible loss of principal capital. Past performance is not indicative of future results. I accept no liability whatsoever for any direct or consequential loss arising from the use of this information.
This is not an offer to sell or a solicitation of an offer to buy any securities. I strongly recommend that you seek advice from a registered professional for all your financial needs.
