An FT article highlights research from NYU Stern Business School that Hedge Funds misrepresent facts. Obviously the researchers have not ever had a sales job in their lives. Facts are frequently not just misrepresented but are frequently made up by all sales people, when pitching to clients.
One of the reasons of the Great Financial Crisis seems to be that as far as finance goes, people have forgotten the basic injunction of caveat emptor (let the buyer beware). If more people understood that a majority of people working in finance are simply sales people who are selling you a product, whether it is investment Hedge Funds or buying a Home Loan. Unlike other industries viz. manufacturing or construction or Hotels or anything else, finance simply allocates money around and there is only so much that you can extract in value by moving money around. Then the only way to generate profits is by selling and charging more.
It is important to remember that when dealing with financiers or bankers of any kind.