Simon cautions on judging an investment by the knee-jerk, post-earnings market reaction. He also discusses the potential pitfalls of trying to predict legislative outcomes, underappreciating "slow" risk, and the limitations of the widely-adopted "60/40" portfolio allocation. He highlights quarterly results from Johnson and Johnson (JNJ), AbbVie (ABBV), Merck (MRK), Amazon (AMZN), Northrop Grumman (NOC), and L3Harris Technologies (LHX).