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Sunday, May 17, 2015

Mba Finance As an MIT student

Mba Finance As an MIT student
As an MIT student, I find Reuben's book more enlightening than most of my professors.

I'm not even halfway through my Kindle version of this book, and I'm picking up my Macbook Air to pen this review. This book deserves more stars!! Every undergrad or MBA student, professional, anyone seeking an insider's guide to modern finance must buy this book. It'll even help decipher newspaper jargon of off-balance sheet transactions, special purpose entity (SPEs). It even highlights what ratios / which financial statements / how major corporations today cook the books.

I wish my professors would use anecdotes like Reuben's, because a reader will actually *remember* them unlike most other books. Example:

"I like to think of the income statement as the report card for the company... However, in the world of finance, it's the student and not the teacher issuing the grade... Companies an highlight certain items with the hopes that Wall Street and the investor public will look favorably upon the company based on this emphasis. Simply stated, the problems include the following:
- Revenues do not accurately reflect what the company has collected.
- Expenses do not accurately reflect the cash that was paid. ...
The income statement is not entirely useless. It does have its purpose in that it reports the overall performance of the company, though often this performance may not be actualized."

Thank you, Reuben, for helping me ace my classes with your straight-upon, clear, memorable & digestible explanations. 

Mba Finance As an MIT student

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