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Kemetria Lilly Founder of Lilly’s Kloset: 5 Tips for Aspiring Entrepreneurs

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Lilly Kemetria

Every girl, including myself, wants to look beautiful and radiant, but to feel confident is another plus. Then there’s Lilly’s Kloset, the online women’s boutique with offers in everything a woman needs in her closet. Founded by Kemetria Lilly, Lilly’s Kloset has everything from sunglasses to shoes. There is a unique offer on looks from head to toe.

The brand started off as an accessory boutique, but just by listening to their customer’s wants, they added other categories to the site, with shoes being their main revenue. Just by that, the brand gave more access and opportunities to customers to be apart of the brand, with the responsibility to make decisions on what Lilly’s Kloset carry and restock.

Kemetria Lilly

Fashion is the most effective way to communicate women-empowerment, in influencing young girls to the recognition of their true potential. In the process, to reflect their internal beauty into physical shape is something that Lilly’s Kloset carries out respectfully. This brand screams women-empowerment. Initially, Kemetria Lilly aimed to work in the fashion industry.

After getting rejected though, she still committed to her passion for styling and putting beautiful things together. As she builds herself a career that allows her to create, she also intended to use her brand to make women feel good through fashion. The outfits are for women from ages 18-24, or as Kemetria Lilly calls it, “The Lilly’s Kloset girl is a college student that has a party to go to, the working mom that has brunch with her friends on Sunday, or the bride that needs shoes for her whole wedding party.”

Kemetria Lilly

To further advance her company, Kemetria Lilly plans to improve the overall customer experience, even stepping in to interact with her customers more. The benefits of doing this will loosen the gap between their ongoing challenge in figuring out what their consumers want. Fashion trends are constantly changing, so from observing their general customers, the brand is able to produce products that can fit into their lifestyle.

For each piece of apparel, Kemetria Lilly already thought of a layout of how the outfit could be implemented. With this success, the company plans on improving with a movement towards adding product lines, larger size selection, and more exclusive collections. Leaving their only competition being last year’s sale to beat, they conclude how this is not just a brand for fashion, but also a voice for women.

As an entrepreneur herself, Kemetria Lilly started her business from the ground up. She continues to share her knowledge by giving 5 tips for aspiring entrepreneurs.

1.) Be Unique

You will never stand out by following the crowd. To get people’s attention to what you’re doing, you have to give them something to remember. Generate ideas that will meet up to your standards, that way, you have a project to be proud of.

2.) Stay Consistent

This goes for everything you do. Stick to the things that you are familiar with, you’ll polish your skills to become an expert. Also, you will have a motive. This is the guideline for Lilly’s Kloset,
“We stick to the same fonts and colors, our voice is also the same through our marketing material”.

3.) Be Transparent

People like to connect with people, not brands. Therefore, showing who the owner is or what it’s like behind the scenes in building your brand allows you to be relatable. To keep your customers, you have to create a sense of the relationship between them and the brand. Something to look forward to.

4.) Be Patient

When it feels like everyone else is thriving in their career but you aren’t, it will make it easy to think things won’t work out. Due to that, it’ll seem like the easiest thing to do is to give up, but that is not the case. It’s important to know that social media is only the highlight reel of our lives and hard times will not be shown.

5.) Never Stop Learning

It’s so important to educate yourself as an entrepreneur and to always be aware of what’s going on in your industry. To keep yourself up to the task, be prepared to continue your education. With every situation, whether it’s a failure or win, there is always a lesson lurking behind that can help you improve your task.

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Silver Price Surges, WallStreetBets Claim They are Not Behind the Rally

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Last month, the silver market was the flashpoint in the Reddit mania. The silver price surged as much as 13%, reaching eight years high. A week prior, posts on the WallStreetBets group on Reddit called to bet on silver. This was a way to hurt the big banks as they believe they are artificially suppressing prices. 

From there, the retail sites have already warned their customers that they could not meet the extremely high demands for silver bars and coins. The silver markets are currently monitored by the Commodity Futures Trading Commission. They said that they are remaining vigilant in checking these markets for potential fraud and manipulation. 

APMEX, a known online retailer of precious metals, wrote that due to the demand for physical silver products, they are unable to accept additional orders until the global markets open. 

SD Bullion and Money Metals posted similar notices. 

UK’s royal mint shared that the demand for silver products increased by 14 times over that weekend. 

The  #silversqueeze was trending on Twitter as well. 

If a supply squeeze happens, it could have real-world implications since silver has many industrial usages. This includes solar appliances. 

What r/WallStreetBets Say

In recent trading, silver futures were up about 9%. Shares of Pan Am Silver went to 11%, and the Coeur Mining rallied more than 20%. This could prove the power of WallStreetBets. They sent AMC and GameStop to skyrocket as well. It resulted in crushing a few hedge funds that had bet against those stocks. 

Meanwhile, the free-trading app Robinhood was criticized for restricting trades in GameStop. 

One WallStreetBets user wrote last week that SLV would destroy the biggest banks. While another shared that JPMorgan Chase suppresses metals for quite some time. 

Others are saying that JPMorgan paid a $920 million fine last year as they need to settle charges brought by manipulating trades of futures tied to precious metals. 

The Winklevoss twins, who are famous for suing Facebook’s Mark Zuckerberg, also tweeted their support for WallStreetBets into silver. Cameron Winklevoss tweeted that if the silver market is proven to be fraudulent, then we must believe that the gold market will be the next. 

However, a few posts on WallStreetBets suggested that hedge funds were co-opting their movement and that there was no coordinated effort when it comes to the silver market.

Senator Elizabeth Warren called for the SEC to investigate. She said that they don’t know who the players are in all of this or whether there’s big money on both sides. 

Experts Weigh In

Ryan Fitzmaurice, a strategist at Rabobank, said that it is not surprising to see that the consumer demand overwhelms the physical supply of silver coins by dealers in the short term. He then added that he is not certain how the Reddit trading strategy will work in the future.  

It’s worth noting that many Reddit users are saying that they should keep targeting GameStop shares. One argued that if you buy silver or going long on silver, you are directly putting your money into the pockets of hedge funds on the other side of GME. It was insisted that if you need an alternative investment to GME, better get in on the AMC, Blackberry, and Nokia.

A personal finance campaigner, Myron Jobson, said that many investment portfolios would benefit from silver and gold exposure as it can enhance portfolio diversification. But he added that it’s only for a satellite holding. 

Meanwhile, Richard Hunter said that the army of keyboard warriors and those who follow their lead could get hit by their own shrapnel. This indicates that we must all be cautious in following market trends and that we have to be smart in making decisions. 

We must also remember what happened with the Hunt Brothers back in the 80s. They tried to buy as much silver with high hopes of protecting their wealth from inflation. However, when industrial buyers of the precious metal complained about the silver price, regulators stepped in. This resulted in the silver price going down, and the business of Hunt Brothers collapsed.    

But if there is one thing that is certain, Goldman analysts said the event with silver prices represents that populism is still a growing political force. And now, it has the power to move markets.

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The 8 best investing app alternatives to Robinhood

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Robinhood, the investing app, disrupted the financial technology scene when they offered commission-free trading. The app had a waitlist of more than 500,000 when it was first introduced to the public in 2014. It became an instant hit as it made the financial market more accessible to new investors.

However, early this year, Robinhood got itself embroiled in a controversy concerning “memestocks.” As of February 2, the app announced that they had eased the trading limits on these restricted stocks. Sadly, many are now looking for alternatives as they became disgruntled with the app.

Here are 8 of the best investing app alternatives to Robinhood that you can try out:

1. Webull

Doing most of the things that Robinhood does, many investors consider Webull as Robinhood’s closest alternative. Aside from its $0 stock and ETF commissions, no account minimums, and competitive margin rates, Webull has other noteworthy features. It allows you to trade in Bitcoin, Litecoin, Etereum, and other cryptocurrencies.

And as no investing app is perfect, Webull has its downsides as well. It offers limited investment options such as mutual funds or fractional shares. 

You can download the Webull app on the Apple App Store for iOS and the Google Play Store for Android.

2. Fidelity

One of the few brokerages not affected by the GameStop controversy, Fidelity has a solid track record. The app not only offers excellent trading options, it helps you get ready for retirement as well. It provides wealth management advice and a selection of market analysis tools.

Another plus for Fidelity is that it boasts of superb customer service. Unfortunately, it falls short of its relatively high broker-assisted trade fee.

You can download the Fidelity app on the Apple App Store for iOS and the Google Play Store for Android.

3. TD Ameritrade

Offering a wide selection of mutual funds, TD Ameritrade is one of the easiest to use. It provides bonds, stocks, margins, options, and many others. The app features extensive research analytical tools and an education platform. You can learn from their articles, immersive courses, tutorial videos, and events.

It’s one of the best investing apps as it covers most of the basics. However, if you’re into fractional shares, this app doesn’t offer it.

You can download the TD Ameritrade app on the Apple App Store for iOS and the Google Play Store for Android.

4. Charles Schwab

An investing app that’s hard to beat, Charles Schwab offers an extensive range of tradable securities. Fractional shares, mutual funds, stocks, bonds, futures, and options are a few of its offerings. Its mobile app functionality is one of the best around, so it’s perfect for newbies and advanced traders alike.

There isn’t much to dislike in this app other than its low default cash sweep rate.

You can download the Charles Schwab app on the Apple App Store for iOS and the Google Play Store for Android.

5. TradeStation

Offering more investable classes than Robinhood, TradeStation is a user-friendly platform. It features advanced tools for research and trading as well as investment education. The TradeStation Crypto allows you to trade mutual funds, futures, bonds, and cryptocurrencies such as Bitcoin, Bitcoin Cash, and many more.

One of its downsides is that there are no transaction-fee-free for its mutual funds. 

You can download the TradeStation app on the Apple App Store for iOS and the Google Play Store for Android.

6. E*TRADE

One of the most popular and best investing apps around, E*TRADE is a frequent trader’s favorite. Beginner investors will also appreciate this app as it has an easy-to-use interface. It offers a large selection of investment options and excellent customer support.

One drawback, but not much of a dealbreaker, is its website, which isn’t easy to navigate.

You can download the E*TRADE app on the Apple App Store for iOS and the Google Play Store for Android.

7. SoFi

One of the newest investing apps on the block, SoFi, specifically targets young investors. It offers free trades of stocks, exchange-traded funds, and the capability to buy and sell cryptocurrencies. It is one of the first to offer fractional shares and free financial counseling.

SoFi may not be the best option if you want to buy bonds, mutual funds, and other bedrock investments. 

You can download the SoFi app on the Apple App Store for iOS and the Google Play Store for Android.

8. Moomoo

Considered a wild card in the investing industry, Moomoo is a worthy inclusion in this list. One of the safest platforms you can trade in, this app’s securities product is regulated by the US SEC (Securities and Exchange Commission) and the FINRA (Financial Industry Regulatory Authority). It has the usual research tools and a paper trading feature that allows you to simulate the trading experience before jumping in.

However, this app has a limited product portfolio and not so commendable customer service.
You can download the Moomoo app on the Apple App Store for iOS and the Google Play Store for Android.

For other investment-related and business information, you can check out other news, articles, and reviews here at Owner’s Mag!

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How Reddit Trolls Cost Hedge Funds $6 Billion

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The GameStop Stock Saga has some hedge funds licking their wounds while smaller independent traders reap the benefits.

When it comes to financing, there is no accounting for the power of Reddit. Some hedge funds learned this the hard way last month when a group of retail traders organized on the subreddit, WallStreetBets bet against a short sell of the company GameStop. Now that the dust has settled, let’s breakdown what happened in this epic showdown between Wallstreet and internet trolls.

It All Starts with GameStop

GameStop is a video game retail store with over 5,000 stores across the United States. They specialize is selling new and used video games and equipment along with some novelty toys and merchandise. It seemed that GameStop was on the downward trend over the last year. With less people shopping in malls, Xbox and Playstation introducing digital only consoles, and COVID-19 lockdowns, GameStop business was on the decline.

In September of last year, investor Ryan Cohen bought a 13% stake in the company and pushed them to move their business to an online model. That’s where the hedge funds came in. Eagle-eyed investors saw this as a sure-to-fail gambit and moved to short the stock.

What is ‘Shorting a Stock’?

Contrary to traditional investing, shorting a stock is how traders look to make money off a stock’s failures rather than success. An investor will borrow the stock of a company from someone when they anticipate a price drop. They sell it and repurchase it once the price goes down and keep the profit minus some interest.

In other words . . .

Suppose Kevin has 100 oranges and the going rate for oranges is $2 apiece. Kevin’s friend Max borrows 10 oranges from Kevin and turns around to sell them all right away for $2 an orange, totaling $20. After a couple of days, the price for oranges drops to $1, so Max goes out and buys 10 oranges for $10. He then returns the oranges to Kevin, making a cool $10 profit in the process.

This is short selling in a nutshell.

Short selling is something that happens all the time on the stock market. It is perfectly legal and, in fact helps regulate the prices of particular stocks. There is a catch, however.

In the case of the oranges – what happens when Max sells the oranges he borrowed from Kevin, and instead of the price dropping later, the price goes up? Now, Max has to spend $3 on an orange. To return the oranges to Kevin, Max has to spend more money than he made and lose $10 for his efforts.

The Showdown

When some big hedge funds eyed the downward trend of GameStop, they decided to short the stock. They borrowed many shares from the company’s shareholders and sold them immediately in anticipation of the price drop.

Enter Reddit

A subreddit group, wallstreetbets caught on to the GameStop short and decided to band together and apply a ‘short squeeze.’ They used their clout to urge amateur investors across the internet to purchase stock in GameStop, declaring a fight against the big Wall Street firms.

When the subreddit and their legions bought up all the GameStop stock, the price shot through the roof. On January 12th, GameStop was trading at $19.95/ share. In two days, it nearly doubled. By January 25th, the stock had jumped to $76.79, and on the 27th, it was trading higher than TESLA at $347.51.

Forced to buy back at over a 1,500% increase, the short-selling hedge funds lost big time. Melvin Capital Management lost 30% of the $12.5 billion it was managing. The Guardian estimates, the Redditors cost hedge funds upwards of $6.12 billion.

On the flip side, many of the Redditors and amateur traders stood to make an exorbitant profit if they sold at the right time. Some traders claimed to have made $11 million in the whole ordeal by buying low and selling high.

Behind The Madness

Wallstreetbets claims the short squeeze was implemented as a way to stick it to the big hedge funds. It was seen to be class warfare, with many angry with the big-time traders making money by manipulating the market in a way that the little guy couldn’t.

It wasn’t just the internet trolls. Elon Musk got in on the action, driving up the GameStop stock with a single tweet.

The Aftermath

Trading had sky-rocketed in an unprecedented way. Robinhood caught heat for temporarily suspending the trading of GameStop. They claimed it was because they did not have the capital to back the trades. Notifications on the app warned traders of the dangers of short-selling.

Some criticized the app for cutting out the little guy during a historical time to make money.

GameStop has since returned to more modest trading but still trading significantly higher than it was at the beginning of the year. Robinhood has reopened trading to GameStop and issued a statement explaining their actions.

No doubt, big time hedge funds are weary to tick off the wrong people with their next short.

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