Please answer the following questions regarding angel investing:

a. In general, how does angel investment activity track with upward and downward swings in the public stock market?

b. Assuming that early/seed/vc returns are indicative of angel returns, how have angels performed compared to other forms of private equity?

c. What is super angel investing? How are super angel funds typically structured?

d.What is the difference between a member-lead or manager lead angel group? Which has better returns?