Management consultants and industry researchers derive a significant proportion of their annual revenues from private capital firms. They have too much to lose by disclosing the shortcomings of the trade.

For those who have done significant research and identified performance issues or other structural flaws, their work was carried out on behalf of their institutional clients. They have little incentive (and would often be contractually obligated not) to release their findings publicly, for the benefit of retail investors, legislators and regulators.