It would be more interesting if he could talk about how to take advantage of a bubble
Create some fake startups which take in the cheap capital. Funnel it to a safe haven by making the fake startups buy overpriced services from safe-haven-company. Once the bubble busts the should be a lot of cash in the safe haven to buy now undervalued assets and maybe even work hire the now unemployed engineers.
Your strategy is okay. For those set of assumptions I suggest you remove the second step, which might significantly reduce your being rich. So, 1) Keep plenty of liquidty. Buy nothing pre- or post-crash.
This has a very high probability of keeping you rich.
Now on to us mere mortals. In bubble times did you know you can actually start a company with like a few hundred dollars, start delivering product and getting users, and get investment to accelerate the process?
That way, you can build a company with cheap capital even if you're not already "plenty liquid", as you might put it.
Of course, we can all be clairvoyant if we sweep our losses (FB is up 27% versus IPO opening price) under the rug. Shorting as a strategy works wonders if you ignore when it doesn't.
My investment strategy is low cost index funds. I'm not about to start playing in that casino.