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 Video Here’s What Investors Should Take Away From the Chinese Balloon Fiasco Staff Video Five Black Swans That Could Change the Course of 2023 Staff Sponsored Content Market Volatility May Boost Distressed Credit Opportunities Sponsored by Fidelity Investments