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By Admin | September 5, 2008
Cake Financial Pushes A New Social Stock Index: The Cakedex. Can It Beat The S&P 500?![""]("http://www.techcrunch.com/wp-content/uploads/2008/09/cakedex-chart.png" "\"cakedex-chart\"")
One year after it launched at TechCrunch40, Cake Financial is rolling out a new design today and a load of new features. One of the most interesting is a new stock index called the Cakedex that is based on the top 100 holdings of the top performing investors on the social investing site. Over the past five and half years, the Cakedex would have outperformed the S&P 500, the Dow Jones, and the Nasdaq. Although, over the past 90 days, it has been underperforming the major stock indexes. Next year, the company plans to launch an exchange-traded fund based on the Cakedex so that people can actually invest in it. Can the top investors on Cake do better than the market?The Cakedex was actually introduced in May, but is now integrated into Cake’s new design timed with its first birthday. In addition to Cakedex, other new features include:Cake Take: A stock rating system updated several times a day, based on the real-time buying and selling of stocks by Cake’s members. Cake has ratings for 2,033 stocks, mutual funds and ETfs (versus 3,069 for Schwab and 4,074 for Morningtsar).Cake Scout: A stock recommendation system that uses collaborative filtering to show you what other Cake members with similar holdings and risk profiles are buying and selling. Each recommendation includes the Cake Take stock rating.
Yahoo Stock Falls Off The Cliff. When Will Jerry Give Up?
Yahoo’s already crushed stock price has fallen further today - its down 8.36% since this morning, bringing it to a nearly five year low of $17.75. Yahoo has been as high as $34 in the last year (thanks to that Microsoft takeover bid), which means nearly $23 billion has been taken out of shareholder pockets in that period.How long can Jerry weather this storm?
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