The Chicago Journal

Self-Made Hedge Fund Manager Komey Tetteh Shares His Story

Edward Anderson Edward Anderson on November 7, 2022

Rated the world over as a risky investment, hedge funds have the potential to undoubtedly be highly rewarding. Compared to other financial investments, hedge funds emphasize high returns, which makes it a lucrative sector. However, establishing a thriving career in the field can be a tough hurdle for many, but not for Komey Tetteh.

Komey is a skilled, sought-after, and renowned hedge fund manager. The independent hedge fund manager has years of expertise trading at the highest levels in the business, including on regulated instruments governed by the most prestigious international jurisdictions, including now highly regulated ASIC (Australia regs) and FCA (UK regs) funds. Tetteh is a self-made financial investment genius on a quest to revolutionize the sector.

Tetteh’s most recent effort, the Institutional Trader Gap Project, uses cutting-edge bridge technology to let traders speak with the markets directly. The Institutional Trader Project uses connections made over many years in the sector to cut out intermediaries from the trading process and provide professional traders with direct liquidity terminals that allow clients access previously only available to the wealthy.

Tetteh has provided his services to numerous investors and institutions throughout his career, demonstrating outstanding, dependable results in the financial markets. After working with numerous organizations and demonstrating superior, dependable profits in the financial markets, Tetteh became an independent hedge fund manager.

Unlike many other hedge fund managers, Tetteh had difficulty navigating the business world because of his upbringing. He had to use the standard tools at his disposal due to a lack of finance and resources to outperform the competition.

Living alone at fifteen presented Tetteh with his most significant difficulty because it exposed him to genuine hardship. This required him to learn how to make money to support himself, which meant working all night while attending school and college during the day.

Nevertheless, Tetteh kept his chin up and stood up to outrun his competition. He started investing in the stock market in 2010, having built a multi-year track record. Tetteh’s passion for the financial industry saw him start managing portfolios, and through hard work and dedication, he has grown and expanded to multi-million-dollar portfolios. 2020 saw his breakthrough into other projects and start-up companies, and he has grown his business investing portfolio extensively. 

Tetteh currently offers trading services for hedge funds, managing more than $100 million in capital. This entails managing hedge funds on a contract basis for the business and enhancing existing funds with new ideas and tactics.

According to Tetteh, 90% of life is determined by how you react to your given circumstances. Additionally, you are the star of your own movie, so make the most of it. “Start where you are, don’t be scared to move forward, and figure out the rest as you go,” says Tetteh.

Recently, Tetteh acquired residency in Dubai, where he aims to expand his global reach.

You can also start a joint venture with Tetteh through his bespoke alpha offering, where the needs of your hedge fund/business are reviewed, and he adds value by incorporating his trading strategies/portfolios. He aims to grow his portfolio to handle 500 million across all funds and agreements made.

How Lisa Begley Is Redefining the Fitness Scene With Her Advocacy for a Holistic Approach

Claire Peterson Claire Peterson on November 7, 2022

Keeping one’s health in tip-top shape is crucial, especially nowadays when various diseases and illnesses have claimed countless lives. Because of this, more people have committed to eating clean and maintaining a healthy lifestyle. On top of that, many individuals have become more motivated to engage in physical exercise to help strengthen their bodies and boost their immune systems. Needless to say, the fitness scene is in full swing, with almost everyone visiting their local gyms to keep fit. 

But on the flip side, many of these eager individuals fall through after a few weeks and even just a couple of days. One of the primary factors why this is happening is the highly competitive nature of today’s fitness culture. As some had explained, they felt a growing pressure to hustle and keep up with their more advanced peers. Unfortunately, this has resulted in burnout, and several have ultimately decided to stop going to the gym and exercising altogether. 

Cognizant of this, fitness expert Lisa Begley has opened a studio that caters to individuals who wish to continue their fitness journey without the added pressure. She realizes that each person has different needs and preferences and should, therefore, not be put in a box. Instead, the owner of Barre3 White Oak Studio offers a full-body balanced workout that combines strength conditioning, cardio, and mindfulness. Through this intuitive approach, she allows her clients to achieve holistic well-being that honors mind, body, and soul.

“We promote mindfulness to encourage a healthy mind, strength to give you confidence, and cardio to build your endurance. We boost self-compassion, and we’re redefining what success in fitness looks like. It’s not about the before and after picture. We build a community of acceptance, grace, and support. Support to get you through life’s challenges. We give you a place to take time for yourself, so you can make time for others,” the insightful professional explained.

Unlike any other gym or yoga studio, Lisa’s place focuses on meeting clients’ needs throughout their class. Offering options and modifications. Moreover, it welcomes all types of people regardless of where they are on their fitness journey. As a result, clients and members will leave each session feeling balanced in body and empowered from within. As the visionary proudly shared, “The program creates a euphoric afterglow that will take you through the day with a positive heart and mind. It’s therapeutic sweat sesh!”

When asked what motivated her to take an inclusive stance on fitness, she meaningfully answered, “I needed to be part of something I could believe in authentically and with purpose! Barre3 is that something. I want them to find a space, a community where they can be themselves and work out with no judgment. A place where moving with options and modifications is not a weakness but a strength.”

Through Barre3 White Oak Studio, Lisa Begley has impressively broken barriers and squashed harmful stereotypes in the fitness industry. Moving forward, the fitness entrepreneur plans to spread her advocacy of redefining fitness to encompass not just the physical aspect but also the mental and emotional elements. Above all, she intends to continue providing clients with a safe space to train, exercise, and move at their own pace.

Lyft announce plans of workforce layoff

Nicholas Alexander Nicholas Alexander on November 7, 2022

Lyft joins a host of companies making tough decisions amid rising inflation by informing employees about layoff plans.

The announcement

The transport company’s announcement came on Thursday after Lyft executives reconsidered staffing in light of the economic situation.

Lyft sent a letter to its employees on Thursday regarding the company’s difficult decision.

Logan Green and John Zimmer, the company’s co-founders, said the layoffs would affect all parts of Lyft’s business.

They also pointed to the broader macroeconomic challenges that led to the tough cuts.

Read also: Elon Musk will take more action on Twitter

Statement

The memo from Lyft’s founders expressed regret over the decision, writing:

“We know today will be hard. We’re facing a probable recession sometime in the next year, and rideshare insurance costs are going up.”

“We worked to bring down the costs this summer: we slowed, then froze hiring; cut spending; and paused less-critical initiatives.”

“Still, Lyft has to become leaner, which requires us to part with incredible team members.”

Slow growth

The tech industry saw a surge during the pandemic as consumers became more dependent on the digital world.

However, technology companies experienced slow growth in the September quarter as customers and advertisers reconsidered spending.

Most of the tech industry is now rethinking its investment and workforce needs.

Amazon also shared plans to suspend hiring corporate positions for months on Thursday, citing the economic climate.

Additionally, Stripe, a payment processing company and one of the most valuable startups, also announced it will lay off 14% of its staff.

Stripe CEO Patrick Collison wrote to his employees and said:

“We were much too optimistic about the internet economy’s near-term growth in 2022 and 2023 and underestimated both the likelihood and impact of a broader slowdown.” 

Read also: Federal Reserve continues with another rate hike

Lyft

The ride company’s move comes as Lyft rival Uber saw strong sales growth, fueled by demand for rides and food delivery.

Lyft will announce its financial results on Monday.

“We are not immune to the realities of inflation and a slowing economy,” the memo states.

The company, on Thursday, confirmed its intention to lay off more than 683 employees.

Lyft also said it would incur more than $27 million to $32 million in restructuring and related costs due to severance and employee benefits.

So far, in 2022, the company’s shares are down nearly 70%.

Reference:

Lyft to lay off 13% of staff

Federal Reserve continues with another rate hike

Leah Cooper Leah Cooper on November 7, 2022

The Federal Reserve on Wednesday approved another consecutive rate hike, one of the most recent and serious moves to fight inflation.

The hike

The Federal Reserve approved a fourth consecutive rate hike of three-quarters of a percentage point.

The hike takes the average central bank lending rate to a new range of 3.75% to 4%.

This is the highest interest rate in more than a decade since January 2008.

The Fed’s rate hike is the latest aggressive attempt to rein in the inflation plaguing the US economy.

The decision

Wednesday’s decision comes after the Federal Open Market Committee’s two-day policy meeting.

It also marks the Federal Reserve’s most challenging policy move since the 1980s.

The decision threatens to increase the economic pain for millions of US businesses and households by increasing the cost of borrowing.

It can potentially trigger a recession.

Read also: Stock market movement largely positive in October this year

Soft landing

At a press conference after the meeting, Federal Reserve Chairman Jerome Powell acknowledged that the road to a soft landing was narrowing.

Despite the narrowing lane, he assures people that it is still possible.

Soft landings are a process to cool the economy while avoiding a recession.

“The inflation picture has become more and more challenging over the course of this year,” said Powell.

“That means we have to have policy be more restrictive, and that narrows the path to a soft landing.”

Jerome Powell reiterated his commitment to reducing inflation.

Furthermore, he asserted that continued inflation would cause more economic suffering compared to a recession.

New language

The Fed’s November statement included a new section added by officials, which came as a surprise.

The Federal Reserve generally repeats the same language on every release.

In its latest statement, the Federal Open Market Committee assumes that further increases in the target range are needed to adopt a monetary policy stance.

Monetary policy is tight in an attempt to bring inflation back to 2%.

Fed watchers might speculate that adding “over time” to their inflation target would have fewer negative consequences.

Further, it could mean the Fed would revert from aggressive rate hikes to lower rate hikes over the longer term.

The statement further stated:

“In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”

Cooling economy

The new language also paves the way for lowering interest rates, recognizing that monetary policy can cool the economy.

Despite the economic data showing strong growth, the cooling economy appears to be working.

Wall Street may also see the new language as a response to the criticism regarding the Fed over-correcting with high rate hikes that could harm the economy.

Read also: Huge rally in the stock market a good sign in October

Markets

Recent data shows that mortgage rates are reaching levels not seen in 20 years and are starting to weigh on the housing market.

New home sales in September were down 10.9% from August.

They are also down 17.6% compared to 2021.

However, inflationary pressures are also easing.

Wages and salaries increased by 1.2% in the third quarter after 1.6% in the second quarter.

However, despite the changes, the labor market remained tense.

The number of vacancies increased in September to 1.9 vacancies per available employee.

Friday’s job report is expected to show the economy will add 200,000 jobs in October.

While it is lower than last month, the number remains at an all-time high.

Reference:

The Fed makes history with a fourth straight three-quarter-point rate hike

Rainn Wilson reminds people he’s more than Dwight Schrute

Nicholas Alexander Nicholas Alexander on November 7, 2022

Rainn Wilson is one of the most versatile actors in entertainment, but he is best known for his role as Dwight Schrute.

Although Wilson is most recognizable for his work on The Office, he says he doesn’t want to be remembered for that particular role.

Elaboration

Rainn Wilson spoke to Collider in a recent interview to explain his sentiments about his recognition as Dwight.

“Listen, obviously, most people know me from The Office, and they always will, and that’ll be on my tombstone,” said Wilson.

“My epitaph will be, ‘The guy who played Dwight.’ But I did dozens of roles before I played Dwight. I’ve played dozens of roles after Dwight.”

Read also: Taylor Swift takes entire top 10 of Billboard Hot 100

Other roles

Besides Dwight Schrute, Rainn Wilson’s other most famous role was in the coming-of-age Juno.

Although he played the memorable Rollo behind the cash register, Wilson still doesn’t list him as one of his favorite roles.

Instead, Rainn Wilson cites the 2010 cult classic Super as the work he is proudest of.

Super

In Super, Rainn Wilson played Frank Darbo, a fryer who decides to transform himself into a costumed vigilante named Crimson Bolt after his wife left him.

“We shot that super quick in Shreveport, scenic Shreveport, Louisiana,” said Wilson.

“But I think the combination of humor, darkness, tragedy, insane imagination – my brain gets touched by the finger of God.”

“I think it’s an extraordinary work, and I’m really proud to have been part of it.”

Rain Wilson’s choice comes as a surprise to fans as the film only earned $593,933 at the box office.

Additionally, Super scored 49% on Rotten Tomatoes.

Due to the low box office return, Super will likely not have a sequel.

However, Rainn Wilson’s Crimson Bolt made a cameo appearance in the 2019 film Brightburn as a photo.

Read also: The Witcher set to replace Cavill with Liam Hemsworth in fourth season

Weird

Rainn Wilson’s latest project sees him alongside Daniel Radcliffe for Weird: The Al Yankovic Story.

He plays Dr. Memento, a real broadcaster.

Weird received rave reviews from critics, with Slate film critic Dana Stevens praising him for executing the meta theme:

Weird received rave reviews from critics, with Slate film critic Dana Stevens praising it for tackling the meta-theme:

“Though it wears out its welcome in one dreary stretch midway through, Weird: The Al Yankovic Story (which premiere on the free, ad-supported streaming service the Roku Channel on Friday) is an appropriately goofy tribute to its subject and co-creator: a movie parody about the life of a parodist.”

Reference:

Rainn Wilson says he doesn’t want to be remembered for his most iconic role

General Motors will pull ads out of Twitter after Musk acquisition

Claire Peterson Claire Peterson on November 7, 2022

General Motors is taking a break from Twitter announcements as rival Tesla CEO Elon Musk takes control of the social media platform.

The automaker released a statement on Friday following Musk’s purchase over Twitter on Thursday.

Statement

General Motors revealed that it is implementing the advertising break while the company assesses the situation on Twitter.

The country’s biggest automaker confirmed that it will continue using the platform to interact with customers but will not pay for advertising.

“We are engaging with Twitter to understand the direction of the platform under their new ownership,” General Motors said in a statement.

“As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising.”

Read also: Elon Musk shares a conspiracy theory on Twitter

Elon Musk

The Tesla CEO and founder finally bought out the social media platform on Thursday night after six months of negotiations.

Before finalizing the deal, Elon Musk was worried about the potential loss of ad revenue.

He then sent a letter to advertisers on Thursday to reassure them.

Musk says he doesn’t want Twitter to become a “hellscape” where anything can be said without consequences.

However, he initially promised to reconsider the platform’s content moderation policies and strengthen freedom of expression.

“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” Musk said in a letter.

“Let us build something extraordinary together.”

Advertising

The social media platform’s revenue comes mainly from advertising.

Advertisements generated 92% of Twitter’s revenue in the second quarter.

Dan Ives, a technology analyst at Wedbush Securities, said it would be disastrous for the company if advertisers were scared off by Elon Musk’s Twitter ownership.

“It sends an ominous signal,” said Ives. “GM [General Motors] is the first, but it’s not going to be the only one.”

“We have to wait and see if there’s a wave. On the day that Musk closes the deal, it’s not the news he wanted to hear.”

Read also: Dogecoin climbs higher after Elon Musk’s Twitter purchase

Competition

General Motors currently competes with Tesla (Elon Musk’s company) for car sales.

The company is struggling to sell electric vehicles and lags behind Tesla in overall electric vehicle sales in the United States.

So far this year, electric vehicles have only accounted for about 1% of General Motors sales in the United States.

Additionally, the company has ambitious growth plans for electric vehicles and revealed plans to stop selling gasoline-powered vehicles by 2035.

However, Twitter is unlikely to support Tesla financially, as the company loses hundreds of millions of dollars every quarter.

Tesla is still profitable despite the company’s disappointing quarter.

Dan Ives says it can’t be ruled out that part of General Motors’ decision to make the announcement was a shot across the bow at Musk.

“It shows how they view Tesla as a competitor in the EV space,” he said.

Ives also noted that if more advertisers continue to monetize Twitter, it won’t just be automakers.

Reference: 

GM pauses advertising on Twitter after Elon Musk takeover

Itaewon police offices raided following Halloween crowd crush

Jason Robinson Jason Robinson on November 7, 2022

Itaewon experienced one of the biggest tragedies recently on Halloween when a stampede killed over a hundred people in South Korea.

Investigators are now working on the case of the crowd crush with 156 dead.

The investigations

According to the Seoul Metropolitan Police Agency, investigators raided eight offices to seize internal reports and documents.

The documents in question refer to public notifications to the emergency hotline number 112.

One of the offices searched was the Yongsan District Police Station, which oversees Itaewon’s nightlife.

Crowd crush took place in Itaewon.

Raids and investigations are ongoing as Korean authorities face public pressure and protests.

Witnesses say there was little to no crowd control during the crush in Itaewon.

Reports indicate that police received advanced warnings.

The crush

The Itaewon tragedy in Seoul happened on Saturday.

Witnesses said the crush happened on a narrow stretch of street where huge crowds were gathering on a 13ft wide street.

They said that crowd members could not move or breathe.

Public members reportedly called the police about the overcrowding hours before reports of the first deaths emerged.

Read also: Indonesian soccer derby loss leads to stampede and 174 people dead, nearly 200 injured

The Wednesday raid

A special investigation unit carried out the raids on Wednesday.

The National Police Services Agency (NPA) formed the unit the day before.

It is now responsible for investigating the disaster.

According to the NPA, they suspended the head of the Yongsan Police Station, one of the closest police stations.

“Chief Lee Im-jae cannot carry out his normal duties given the situation,” the NPA announced.

They also noted that they would find his successor later that day.

The calls

According to the NPA, the police received at least 11 calls from people in the Itaewon area.

The phone calls raised concerns of a possible crowd crush just four hours before it happened.

The first call came at 6:34 pm from a caller who said: “It looks really dangerous. I fear people might get crushed.”

Less than two hours later, another called and said people were crowding in the narrow street of Itaewon.

The caller said people were falling and getting hurt.

NPA statement

On Tuesday, NPA chief Yoon Hee-keun confessed that police made mistakes in their response.

“There were a number of reports on the police emergency hotline indicating the seriousness of the (situation) just before the accident occurred,” said Hee-keun.

“According to reports, a large crowd gathered before the accident, and police emergency hotline reports were (informed of the danger).”

Chief Yoon Hee-keun described the police response as “inadequate.”

He also said he felt a heavy responsibility as the head of the agency

During Tuesday’s press conference, Chief Yoon Hee-keun announced the creation of the special investigation unit.

He vowed that the unit would be transparent and share the truth with the people.

Read also: Instagram locks out thousands of accounts

Other notes

Meanwhile, other government bodies admit they were ill-prepared.

The Interior Ministry admitted on Monday that it had no guidelines for crowd management because it was not caused by a single event with a single organizer.

“One of the reasons (for the disaster) was a lack of deep institutional knowledge and consideration for crowd management,” said Prime Minister Han Duck-soo.

The prime minister says it still wouldn’t have been effective had there been more police in the area.

“We don’t have a crowd management system.”

Reference:

Halloween crush investigators raid police stations across Seoul

Scott Lennox, Chicago resident, threatens Republican candidate

Leah Cooper Leah Cooper on November 7, 2022

Scott Lennox, a 21-year-old Chicago resident, sent violent threats to the Republican candidate for governor of Illinois, Senator Darren Bailey.

The Chicago resident allegedly called Bailey’s office last Friday.

According to the Cook County Attorney’s Office, Lennox left him a lengthy audio message.

The threats

According to a bond proposal from the prosecutor’s office, Scott Lennox left a string of violent threats via voicemail.

“I’m going to skin Darren Bailey alive, making sure he is still alive … and screaming in ******* pain,” Lennox allegedly said.

“I know where he lives, I know where he sleeps, I know where his kids sleep.”

“Yeah, that’s right, so he better kill himself, and if he doesn’t, I am going to kill him,” the voicemail concluded.

The transcript comes from a document filed in the Cook County Circuit Court.

Read also: J. Michael Luttig joins the battle against Trump’s attempt to overturn elections

Tracing the calls

The voicemails trace back to Scott Lennox through caller ID.

Additionally, the Illinois Secretary of State interviewed Lennox.

According to court documents, he admits to the calls and reads:

“The Illinois Secretary of State Police deemed (Lennox) was not a credible threat and did not arrest (Lennox) or transport him to any location for further questioning.”

The case was referred to the Illinois State Police, who arrested Lennox after questioning and examining his phone.

Charges

Scott Lennox appeared in court on Wednesday to face charges of crimes including:

  • Threatening a public official
  • Harassment by electronic communications
  • Telephone harassment.

However, he was given a $ 75,000 bail with electronic surveillance.

Additionally, Lennox must stay away from Bailey, his family and associates.

Finally, Scott Lennox is not allowed to post threatening messages online.

Read also: Biden travels to Oregon, voices support for Kotek and warns of Biden’s influence

Bailey

Senator Darren Bailey released a written statement from his campaign to address the situation.

“Divisive, inflammatory, and misleading rhetoric is driving hatred across our state as some attempt to label political opponents as dangerous threats.”

“Whether we agree or disagree on policies, we are all Americans,” he continued.

“I pray this young man gets the help he needs.”

Incumbent Democratic Governor JB Pritzker echoed Bailey’s sentiments despite being his opponent.

“The violent rhetoric and division we’re seeing across our country is unacceptable,” he tweeted.

“Hatred in any form has no home in Illinois.”

In addition to being a senator, Darren Bailey is the co-founder and former president of a private Christian school.

Before that, he was the local school board president for the Clay County Public School District.

Schools linked to Bailey are under soft lockdown, prosecutors say.

Reference:

Chicago man accused of leaving voicemail with death threats at office of Republican candidate for governor

Apple continues positive streak amid inflation

Nicholas Alexander Nicholas Alexander on November 7, 2022

Apple beat Wall Street analysts’ sales and earnings forecasts for the September quarter despite a tough earnings season.

September quarter revenue overcame fears that demand for the latest iPhone series was weaker than anticipated.

Sales

Apple posted revenue of more than $90 billion in the fourth fiscal quarter, up 8% from the same period last year.

In addition, revenue reached $20.7 billion, a gain of less than 1% from the same quarter in the year before.

Apple CFO Luca Maestri also released a statement:

“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop.”

Following the report, the company’s shares fell more than 1% after hours.

Read also: Workers at an Apple store in Oklahoma vote to unionize

Apple products

Sales of the company’s products increased 9% year-over-year to nearly $71 billion.

The growth shows a decrease in the growth rate compared to the previous year, but it was already expected.

Consumers are currently grappling with fears of a possible recession amid high inflation.

Meanwhile, the significant dollar value still raises doubts about Apple’s success in convincing international users to upgrade their devices.

Apple CEO Tim Cook says the company set an iPhone sales record on an analyst call in September.

Services segment

Apple’s service segments posted revenue of $19.2 billion, up 5% from the quarter a year ago and a year-over-year decline.

The Services segment includes paid subscriptions, such as Apple TV+ and Apple Music.

It is a powerhouse for Apple and compensates for the slow growth of Apple’s hardware business.

According to Maestri, subscriptions to paid services are more than 900 million.

Last year, there were only 155 million paid subscriptions.

Read also: Flash report: EU looking to phase out Apple’s Lightning connector in favor of USB-C

Raised prices

The company raised the prices of its music and TV streaming services this week to boost sales.

Investing.com analyst Jesse Cohen issued a bullish statement, saying:

“Like other major tech companies, even Apple is suffering from the negative impact of a worsening macro backdrop and ongoing supply chain woes.”

“Though, it has done a better job of navigating through the challenging environment,” Cohen added.

According to Luca Maestri, Apple expects revenue growth to slow in the December quarter from a year earlier.

He cites the strength of the US dollar and continued macroeconomic weakness as factors behind the slowdown in growth.

Reference:

Apple is weathering the economic downturn better than fellow tech giants