The First Rule of Investing: Don't Lose Money That's also the second rule of investing, says Blackstone's Stephen Schwartzman, because if you don't lose money, you will significantly outperform the market. Related Articles Ken Poliziani, Chief Marketing Officer, PGIM Institutional Investor Institutions Reconsider Emerging Markets With ‘A Real Sense of Urgency’ James Comtois A Different Ask of Global Equities as Investors Seek Downside Protection Sponsored by Schroders