Cake Review
Written on September 9, 2008 by OptionsRopeaDope
Cake looks like a pretty cool new website, set up to exploit alot of the “Web 2.0″ trends out there such as social networking, groups, connections, etc. What makes Cake special is that it does applies all of this to an overall investment portfolio perspective. The “edge” Cake claims is that you can see other top performers, and network with them to share investment ideas, etc. Sounds like a great idea honestly. I decided to try it out.
Without signing up you can see some pretty cool insights, including under the “Insight” tab, which shows the top buy and sell symbols for the last day or two. Individual symbols also have some information, but it is very sparse. For example WMT was held by only about 10 members. I would have expected it to be more.
A basic step is to link to all of your brokerage accounts to get your full “portfolio” of investments. And that’s where my experience ended. For two reasons:
- Cake does not support OptionsHouse
- Cake does not support Think or Swim
.. which happen to be my brokers. They also don’t support TradeKing, another popular options brokerage. They do support OptionsXpress though.
As soon as they expand the list of brokerages they support, I’ll try again. Too bad for now though. Click here to try Cake out for yourself.
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Posted in Misc
Thanks for writing about Cake Financial, I’m happy to hear you found Cake useful and cool. As you are aware, we do not yet link to OptionsHouse, Think or Swim or Tradeking. However, it is in our plans to support as many brokerage houses as possible, and these are all on our radar. Part of the reason these brokerages are not yet offered is that we’re first working to support the tracking and monitoring of options so that members of these brokerages to truly benefit from Cake.
Cake currently supports over 50,000 publicly-traded securities, including all equities, mutual funds, and exchange traded funds. Our goal is to be able to support every tradable security and account type possible, and we are constantly improving our capabilities to do so.
Specifically, we are currently working to add support for:
* Fixed income products, such as municipal bonds and Treasuries
* Employee Stock Purchase Plans (ESPP)
* Education Savings Plans (529)
* Options
* Non-tradable Money Market Funds
* Short Positions
Sorry for the long comment, just wanted to make sure I covered all of your questions. Hope to see you on Cake once we support your brokerages.
Best,
Ethan Bloch
Cake Financial
Community Support Hero