The public sector can be a big help to private portfolios -- especially when it starts to fall apart physically, says Bob Frick, senior editor of Kiplinger's Personal Finance Magazine.
"Global infrastructure investing is going to be $30 trillion over the next 20 years," he told CNBC.
With that in mind, Frick likes Mueller Water Products, a stock that has been getting hammered.
"The thing about Mueller is, a lot of its construction is for residential development, and, obviously, there's nothing going on there," he told CNBC.
"But sooner or later, municipalities are going to have to invest in their water resources, especially because water is becoming such a scarce resource. Where are they going to go? Mueller."
Frick also likes gas pipeline company El Paso.
"It's probably discounted about 40 percent from a lot of the big energy companies, because people don't realize that much of its income comes from the infrastructure that it owns: natural gas pipelines," he said.