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 Tara Giuliano, Chief Marketing Officer, Nuveen Institutional Investor As Fundraising Stalls, Independent Sponsors Fill Gap in Lower-Middle Market James Comtois Growth Is Expensive. Innovation Doesn’t Have to Be. Sponsored by Northern Trust Asset Management