Any investment is risky. Generally speaking, the income from investing in private placement will be higher than that from public offering, but the risk is relatively large and the cycle is relatively long, and it will not be redeemed at any time like public offering. Therefore, qualified investors are needed to undertake such investments, and risks are always linked to returns. As long as you don't invest in informal private placement, you can choose the appropriate letter type according to your risk-taking ability.