I don't listen to cooks like that. Sure, some of what he says is true, and collapses are possible - RE 2008 - however, there are always cooks like this preaching for the end. In reality, it is impossible for retail to profitably time a market collapse - best IMO just to play based on what the daily cash flow tells us.
Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. I have seen all the things that are done under the sun; all of them are meaningless, a chasing after the wind. Only trade for the sake of trading.