Scott Galloway

We had some ribeye.

I think we had the whole menu.

We had the entire menu.

Very on brand.

It was a very good time.

Well, we're very glad to have you on the show, Josh.

And we want to get right into it because we know that you have some jet skis to attend to, probably.

Maybe you're doing some... I have things to do, people to see.

Fair enough.

All right.

Well, let's start with our first story here.

Last week's developments in Iran left investors trying to make sense of a rapidly shifting situation.

First, President Trump threatened to wipe out the country.

Then came news of a ceasefire, which was supposed to include reopening the Strait of Hormuz.

The markets rallied in response, but within 24 hours, the strait was still jammed and confusion emerged over the scope of the deal, specifically whether it applied to Lebanon, where Israel had continued to strike Hezbollah.

By the following day, stocks were retreating and oil was climbing again, so the details remain unclear.

And the situation is still fluid, but one thing is clear.

Trump has escalated dramatically again, and then he has again stepped back from the brink.

So all of this raises a key question for investors.

How do you navigate an environment like this?