The bigger issue is access to dealflow -- if you're a no-name angel, with no particular accomplishments, connections, etc. you're not even going to get entrepreneurs to talk to you. Even if you mail a top company a $50k check and investment offering, it will probably get rejected.
If I had $1mm to invest and got to put it into exactly the companies I wanted every year, I could probably get great returns, but for a random dentist from Oklahoma, he'd be better off just buying AAPL stock.
If I had $1mm to invest and got to put it into exactly the companies I wanted every year, I could probably get great returns, but for a random dentist from Oklahoma, he'd be better off just buying AAPL stock.