How to assess risk: Howard Marks

In this video, famous investor Howard Marks shares his thoughts on risk assessment. He talks about the idea that retail investors should determine their normal risk tolerance level which is mainly guided by the investor's lifecycle and propensity to time the market. Once a normal risk tolerance has been established, the investor can then proceed with being more offensive or defensive depending on market conditions. Importantly, the biggest a mistake an investor should avoid is selling at market lows.