Hightower Advisors chief investment strategist, Stephanie Link, advises investors to do their homework this earnings season to find buying opportunities based on fundamentals — not market reaction. . “I often say that earnings season is silly season,” says Link. And that’s because the company will report earnings and you get this reaction right away. And it has nothing to do with the fundamentals or what the company has to say or what happens with the guidelines. And that is exactly what happened today. Watch the PROFESSIONAL exclusive video above for Associates’ perspective on Bank of America, Johnson & Johnson, and other recent earnings. Bank of America shares traded slightly higher even after the bank reported superior first-quarter earnings and revenue, with net interest income up 25% year-over-year. Bank shares are down 7% this year. At the same time, shares of Johnson & Johnson fell about 2.5% despite meeting earnings and revenue expectations for the first quarter. Shares are down 8% this year. According to Link, both stocks represent a buying opportunity given their strong results — even if investor reaction on Tuesday was lackluster. “You have to do your homework when companies report earnings,” Link said. “Sometimes it takes a few days, but at least you have to listen to what management has to say, listen to the tone, and focus on the fundamentals.” The strategist has revealed her picks this earnings season: Charles Schwab, which reported solid quarterly results, and Schlumberger NV, which she says has an attractive revenue mix when exposed to international.