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 Here’s Where LPs See Opportunities in an Uncertain Market James Comtois Premium Electron Energized in the Second Quarter Stephen Taub Podcast: Uncovering Opportunities in Direct Real Estate Sponsored by Fidelity Investments