Well, that's probably a shame.
I know, intellectually speaking, that I should find a boring old index fund and sock my money away there. It probably wouldn't even be that hard! But emotionally, it feels like soaking it in kerosene and storing it at a fireworks show. Very easy to just put it off and do it some other time — maybe after the next time the market crashes.
Maybe he'll be right and This Time Will Be Different. But the odds are against that.