Anyone can generally buy the stock of public companies on a stock exchange, or buy pools of stocks or bonds via publicly available mutual funds and exchange-traded funds. By comparison, private investments let people invest in companies that aren't listed on a public exchange. Julio Estela, 41, who lives in Wantagh, New York, made his largest private investment in 2021, in Green Coffee Company. Why private markets are 'two-tiered'Hxyume | E+ | Getty ImagesSome of the largest U.S. investors, such as pension funds, often have some exposure to private investments, proponents say. As with public stock, betting on one private investment instead of pooling risk in a fund of many private companies is an even riskier strategy, experts said.

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Persons: Micah Hauptman, Charles Failla, Cassandra Borchers, Thompson Hine, Borchers, it's, Michael Cembalest, Mike Curtis, Shaka Tea, Julio Estela, he's, Curtis, Estela, Hauptman, Failla Organizations: SEC, Consumer Federation of America, Sovereign Financial Group, Sovereign Financial, Morgan, Wealth Management, Shaka, Green Coffee Company, rehabbing, American Investment Council, Pensions, Cambridge Associates Locations: Honolulu , Hawaii, Wantagh , New York, Hawaii