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 Institutions Reconsider Emerging Markets With ‘A Real Sense of Urgency’ James Comtois Podcast: Investors Know What Not to Do in Emerging Markets. They Keep Doing It Anyway. Julie Segal Why Asia and Europe Are Turning to U.S. Crude Oil Sponsored by CME Group