James Kostohryz, a macro-oriented investor and global strategist known for his top-down approach, shares his insights on pressing geopolitical risks. He discusses how tensions between Israel and Iran could lead to oil price spikes and potentially trigger a bear market. The conversation also touches on FOMO in investing, urging listeners to reconsider asset allocations in light of macroeconomic uncertainties. Kostohryz highlights the market's tendency to underestimate risks, emphasizing the need for strategic adjustments amidst geopolitical turmoil.