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 CTAs Racked Up Big Gains — At Least Before the Iran War Upended Markets Stephen Taub Biotech Surge Sends Averill to the Top of February’s Market Winners Stephen Taub II Communities on Global Markets Sponsored by CME Group