Check out the latest Facebook application: Cake Investment Club. Share your portfolio with your friends. See who’s outperforming who.

All I can say is, for goodness sake, don’t use this. It’ll only lead you to make more costly trades in fits of jealousy over friends who’ve gotten lucky. It’s highly unlikely that any of your Facebook friends have any better information than the market already does.

A possible exception is if your friends are trading on inside information. Maybe you should watch the trades of friends who are trading shares in the companies that they work for. Would this make you also liable as an insider-trader?

(HT: Mashable)