In this segment, Mike and Jermal host Russell Rhoads, who discusses potential supply chain disruptions stemming from geopolitical tensions in the Middle East, particularly concerning energy prices and possible stagflation. He explains how these factors could exacerbate inflation and influence interest rates, impacting equity markets. Rhoads also analyzes the VIX, emphasizing that it can reflect market anticipations beyond mere reactions to the S&P 500. He offers strategies for navigating the current volatility and suggests considering collars as effective hedges in today's market environment.