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.
"You're not going to see it bounce up and down with energy stocks...and given that it has a low P/E [price-to-earnings ratio] right now, you up that by three or four points, you're going to see a 30 or 40 percent rise in the stock."
His third pick is Macquarie Infrastructure Company Trust.
"This really gets to the heart of infrastructure," he said. "They own airports, airport servicing garages, the biggest cold-water cooling system in the world. It's kind of an annuity, kind of a bond, and it really gets to sucking money out of infrastructure."