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 Hedge Funds Are on Pace for a Strong Second Quarter Stephen Taub How Tax Changes Will Upend Investing at Endowments and Foundations John Crabb Infrastructure Debt Positioned Well for the Year Ahead Sponsored by IFM Investors