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 The ‘Precarious’ Risk-On Strategy That Drove Seawolf’s Outperformance Michelle Celarier Don’t Want Crypto in Your Portfolio? You Might Need to Look Closer at Your Equity Funds. James Comtois Podcast- Inverting Risk and Capturing the Spread: Merger Arbitrage Explained Sponsored by Fidelity Investments