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Wall Street is a funny business. All you have is your reputation. Taint it and someone else will fill your shoes. Longevity comes from maintaining that reputation.

Ask Jack Grubman, the All-Star telecom analyst from Salomon Smith Barney; uber-banker Frank Quattrone at CS First Boston; Morgan Stanley's Mary "Queen of the Net" Meeker; or Merrill Lynch's Henry Blodget.

Well, they probably won't tell you anything. But have I got some great stories for you.

Successful hedge fund manager Andy Kessler looks back on his years as an analyst on Wall Street and offers this cautionary tale of the intoxicating forces loose in the world of finance that overwhelmed sober analysis.

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