"Water, one of the most precious of resources, continues to be the most mispriced," says Neil George.

In his Profits Hidden in the News advisory, he explains, "Millions of Americans are drinking dangerous water from the tap." Here, he looks at two ways to profit as this situation gains attention.

"The US Environmental Protection Agency has recently updated its data on US municipal water and, as with previous surveys and reports - the news is not good. In fact, for wide swaths of the US population - including those in the nation's capital - its flat out scary.

"Think munis are a risky deal?" asks income expert Neil George. In his Stocks that Pay You, he states, "Don't. Instead, buy them now."

However, rather than buying individual bonds, the advisor suggests that investors focus on buying closed-end muni bond funds. Here, he looks at a trio of favorites.

"The muni market isn't for the uninformed or the novice. Unlike the treasury market and much of the corporate market - when it comes to munis - you have to know each bond inside and out before you buy, and keep tabs on it after you buy.

"Most of the government 's proposed changes for the financial markets aren't new or needed; but what will happen will be a boost for some and a bane for others," says Neil George.

Long-known in the newsletter community for his expertise in income investing, the advisor has just launched a new blog service, Stocks that Pay You. Here, he looks at some winners and losers from the current proposals for financial regulation.

George says, "In my view, these supposedly massive changes amount to window dressing. Banks and other related firms can continue to do what they've always done: cherry pick regulators and play off one regulator against another.

"So, unless we get the government actually empowering the guys down the line inside all of these agencies and departments, don't look for any big changes, because - while the players and the names might be changing - the contest is staying the same.

"With the government set to bail out a trillion dollars in debt, what should you buy?" asks Neil George, editor of Personal Finance. "Bond funds are the foundation that steadies your portfolio."

"While the Fed and the Treasury work to bail out a trillion dollars in debt, other governments around the planet seems to be jumping on board this train; similar deals are being cut from the UK to Russia to Japan and beyond.

"The result is a big surge of short-covering and rampant buying as the markets trade and party like it's 1999 again. But is this a good thing?

"Although it might satisfy the political agendas of government leaders, these moves do pretty much nothing to restore normal risk and reward characteristics that make for a productive free market system.

"Meanwhile, bonds are what continue to perform. The rally in stock might continue for a time, but when more and more serious investors and traders begin to figure out the ramifications of the government's heavily expanded role in the formally private sector, it won't take long for another selloff to materialize.

"We see flowing profits from companies in the water sector involved with pipes, pumps, regulators and other equipment," notes Neil George.

In his industry-leading Personal Finance newsletter, the advisor offers a fascinating overview of three companies that help "utilities and other industries provide quality water service."

"Aging pipes are one of the most pressing challenges in the US and beyond. Studies show that in some municipalities, loss from leaky pipes accounts for as much as 10% of water consumption.

"Ameron International (NYSE: AMN) is a pipe manufacturer with operations on every continent. Earnings per share don't show smooth-line growth on a quarterly basis given the cyclical nature of construction. But it does show solid, year-over-year growth.

"There's some price volatility as investors are jarred with increasingly pessimistic domestic construction outlooks, but overseas earnings will continue to bolster the balance sheet.

"Watts Water Technologies (NYSE: WTS) manufactures pumps, valves and controls for a broad array of both consumer and industrial applications.

"The soaring cost of food isn't just hitting families in the US; it's hitting everyone around the world," says Neil George. Here, in Personal Finance, he looks at some agriculture, chemical and seed plays.

"During the past five years, consumer food costs have soared by more than 117%. And that momentum is increasing; in the trailing 12 months alone, prices surged more than 52%.

"The mega-investors aren't waiting around; they're buying into other parts of the ag business-from grain elevators to ag processors and distributors-as a workaround for such potential regulation.

"You shouldn't be sitting on your hands, either. This food trend is going to be here for a while, so you better stake your claim while buyers still outnumber sellers.

"One way to invest in this trend is to step into companies that are serving the ag producers. This means the companies developing and selling engineered seeds, as well as chemicals and fertilizer products needed to not just grow crops but more bountiful and, therefore, more profitable crops.

"The market is pricing publicly-traded partnerships as if they're headed for bankruptcy," says Neil George who sees high yield and value in select issues. Here's two ideas from The Partnership Letter -- a global infrastructure play and a real estate investment trust.

"There are some darn good partnerships out there that are indeed worth the near-term risk, even amid the probability of lower stock prices.

"Partnerships are characterized by high cash generation and the maximization of depreciation and other tax deductions. They then pay out as much cash as possible to unitholders. And with prices so low, we get to buy into assets that in many cases are worth a lot more in terms of liquidation value.

"After coal, natural gas is the No. 2 source for power generation; and the largest source of gas production in the US is now unconventional reserves," explains Neil George.

In his Personal Finance newsletter, the advisor looks at two favorites plays on this trend: Chesapeake Energy (NYSE: CHK) and XTO Energy (NYSE: XTO). Here is his review.

"Unconventional reserves now account for close to 40% of all domestic gas production. In addition, with the possible exception of deepwater fields, unconventional production is the only domestic source of gas that's likely to show real growth in coming years.

"The term 'unconventional' refers to any gas field that can't be produced economically using traditional well technologies. But, using a combination of new techniques, wells drilled in unconventional fields are prolific producers. US natural gas producers remain on a 17%-plus tear in gains so far this year.

"CenterPlate (NYSE: CVP) keeps it profitable by keeping it simple," says Neil George. "And how much simpler can wer get than a hot dog vendor?"

The senior editor of Personal Finance explains, "When it comes down to making ongoing judgments based on knowing as much as we can about particular industries, markets and businesses. And that level of our understanding gets significantly better when the business is basic."

For example, he notes, when we examine a defense avionics company or a bioengineering operation, we're going to have to stretch a bit. But, he suggests, when we get to look at a company selling hot dogs, it doesn't take a collection of engineering degrees to get a good handle on what's what and why we should buy or sell.

And, says George, hot dogs, soda and beer is where Centerplate lives. The company owns and runs the concession stands in 130 major sports parks and entertainment and convention centers from coast to coast.

The advisor explains, "Although some warn that people will stop going out if the economy heads south, the fact is the really golden years for entertainment come during economic tough times. They may not go on big vacations or splurge on big-ticket items, but a day at a park or a night at a concert is always welcome."

"The company doesn't rely on home runs," says the advisor. Instead, he contends, it hits singles and doubles year-in and year-out, with revenues consistently gaining by more than 5%.

Says George, "This may sound anemic compared to some whizbang tech companies, but it's fine by us. We'll take it and the 10% dividend, giving us an average annual return for the past several years of more than 12%. Buy Centerplate under 20."

Each day, Steven Halpern's TheStockAdvisors.com features the latest stock picks and investment ideas from the nation's leading financial newsletter advisors.

A number of leading financial newsletter advisors -- including Mark Skousen, Bryan Perry, Daniel Frishberg, and Neil George -- have recently taken positions in specialty finance and mortgage lending stocks, sectors that had suffered from the "meltdown" in the subprime mortgage market.

Mark Skousen, in his The Hedge Fund Trader, notes, "Mortgage lenders are making a comeback." The recent price recovery, he notes, has been broad ranged, covering most thrifts and mortgage trusts. He notes, "It appears that investors have concluded that the subprime lending scandal was limited."

iStar Financial (NYSE: SFI), he states, is his favorite commercial REIT. In fact, it was a recent announcement from iStar that acted as a catalyst for an improvement in the overall sector.

He explains, "California savings & loan Fremont General Corp. (NYSE: FMT) announced that it would sell its commercial real estate lending business to iStar Financial for about $1.9 billion. With Fremont expecting now to survive its subprime mortgage woes, many now consider the real estate industry recovery to be real."

Skousen also points to strong insider buying of shares in thrifts and mortgage banks.