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 Hit Trouble as Market Trends Reverse Stephen Taub Michael Green, the ‘Cassandra of Passive Investing’ Puts His Thesis to the Test Michelle Celarier Short-Dated Options Draw Investors as Event Volatility Surges Sponsored by CME Group