Out of every five hedge fund managers, one is prone to fibbing, according to research from NYU's Stern School of Business. This is likely to pour salt in the wound of an industry that's been in rough shape for the past year. And, it'll probably add a bit more pressure for transparency.

The NYU report uses data from 444 due diligence reports that investors commissioned from 2003 to 2008. The research team put the information against the test of reality to see where the differences are. The most common stretch of the truth was the amount of their own money the managers put into their hedge funds, fund performance and regulatory and legal histories. One fund inflated its assets under management by $300 million, while another wasn't up front about one of its partner's legal records (he had stolen a Chinese junk).

Should one wish to start a fight in an American board room, Time Warner Inc.'s (NYSE:TWX) Fortune magazine offers a wonderful tool -- its recent rating of the 50 business schools that best lead to employment.

Schools finishing at the top of the heap are no surprises: 1-5 are Wharton, Harvard, Sloan at MIT, Stanford, and Kellogg at Northwestern. Of the top 10, only Kellogg and Stanford are not on the east coast.

Finishing at the bottom of the elite 50 were the U. of Illinois, Babcock at Wake Forest, U. Mass, and the Terry Program at U. of Georgia.

Leading in average post-MBA salaries was Stanford at $104,917, followed by grads from Wharton and the Tuck School at Dartmouth at $100K. Students of the Eller School at the U. of Arizona pulled in a measly $64,609, slightly less than the Moore School at U. of South Carolina.

Fortune constructed its ratings based on interviews with recruiters and placement stats. The Wall Street Journal ran an excellent article recently on the fickle nature of corporate recruiters. From the statements of several corporate representatives, it seemed clear that graduates are to some degree at the mercy of fellow degree holders from the same school that precede them into the workforce. If a company recruits a couple of duds from Bozo U., subsequent Bozo grads won't get much consideration.

The lesson here? Same as the stock market. Don't listen to the sellers, listen to the buyers if you want good decision-making information. Talk to the corporation recruiters, and see what schools they are hiring from.