Saturday, September 17, 2011

My ideal professional reference book

    After referring to many books for projects, MBA course work, CA/CMA preparation etc, I think I'm well equipped to comment to how an ideal reference book should be. Hardly 10% or fewer of books I've seen meet even 50%+ of this wishlist.Note that this does not cover books intended merely as textbooks only.
  1. Bridge the gap between theory and practice instead of leaning too much towards one side;-Some industry experts like Taleb critique nearly all academics, while most academics works do not refer much to practice. Hence, a book written by a professional with some academic background(to ensure proper referencing/language use) is often the middle way out.
  2. The 'inaccessible' material like quant stuff is contained in an appendix/online version. This is done successfully by John Hull's landmark book on Options, Futures and Other Derivatives. This reduces the printing cost, while allowing more detail to be put online.
  3. Spreadsheets/Simulations to practice the material, preferably with data also. This may be either on CD or downloadable/playable from webite. I've seen this in OM books.
  4. Downloadable data tables:- Instead of giving the data in PDF/text, how about being brave enough to give that same data(especially economic ones) as a supplement? That would let the student do some checking on his own as to the conclusions. 
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