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 Podcast: Investors Know What Not to Do in Emerging Markets. They Keep Doing It Anyway. Julie Segal Kristie Nettles, V.P., Managing Director and Head of Global Insurance and Institutional (North America) Marketing, AllianceBernstein Institutional Investor Why Asia and Europe Are Turning to U.S. Crude Oil Sponsored by CME Group