There's a section of this article which computes an average hourly wage of ~$40/hr as the expected return on an angel portfolio of $500k which takes 2,500 hours to assemble and earns a return of 20%. This seems to be missing the point that the 20% estimate is an annual return, and not a one-time deal, once this portfolio is assembled. Theoretically it goes on for an indefinite time as the overall portfolio increases in value.

Great article otherwise... by the way, minor nitpick here:

> Some angel investors lose 100% of their principle.

Should be "principal", although some might cynically argue that the typo makes this even more true!