Paul Graham wrote a great piece of start up advice, targeted at students but valuable for everyone. The relevant bit for investor presentations is when he talks about playing tricks, or gaming the system. Fund raising is a highly visible metric for success, you have a slick investor presentation, you got a lot of funding, you have shiny offices, you must be successful.
Paul says it does not work* like that and you can see how this experienced investor is looking for a honest start story without the smoke screens. An encouraging read for entrepreneurs out there that have deep experience in a field, are on to a big idea, but are wondering whether they have the confidence to convince investors.
* Well, he says that you might be able to trick investors once, maybe twice, but ultimately the truth will come out.