Holding, now a prominent cricket commentator, said it was "unfortunate" that Ponting had broken the traditional dressing room code of silence in the book, which was released last month.
The former paceman said it was acceptable for ex-players to reveal "a few little titbits" in their memoirs but they should not air dirty laundry in public.
"You don't want to be starting all this animosity after you've finished playing," he told New Zealand radio station Livesport.
Holding said publishers encouraged controversy in books because it boosted sales but players needed to be careful about what they revealed.
"I don't believe in that, you shouldn't be writing a book purely for making money," he said.
"You should be writing books to let the public know a few little things that they wouldn't have known under normal circumstances when you were playing.
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