Q: The HVAC industry as a whole seems to have done well but many businesses now seem to be very richly valued...what is your view of that area going forward?

Trane has been a great investment. It is now 5% of my portfolio; given its valuation, if it was you, would you hold, trim or exit?

Or if you see this area as still having potential, rather than adding to TT, do you think SPX or CARR would be good options? Any others come to mind?

Many thanks for your excellent service

Q: I am interested in investing in one of the above listed companies. Can you please give me your thoughts and analysis? Do you think these companies are a good investment and why . Which of these companies would you prefer? FIX took a big hit on October 25th. Thank you.

Q: Hi 5i,

In some jurisdictions in British Columbia all new homes being built cannot use gas for heating and cannot use gas appliances for cooking.

Also in BC there is a new program allowing low and middle income earners to replace their gas and oil furnaces with heat pumps for virtually no cost to the homeowner.

There seems to be a small but growing segment that is going in this direction. Are there any companies (Canadian or U.S. or even International)that specialize in heat pumps (manufacturing, installation, and/or maintenance) that you would recommend as an investment at this time?

Would Trane or Honeywell fit this description?

If there are any, could you please rank them in order of preference on a scale of 1 to 10?

Thanks.