For the majority of people, a diversified approach makes sense....

For the majority of people, a diversified approach makes sense. Most people don't have the time or desire to.

I'm going to stereotype the group that yolos into one stock or crypto and blows up: they're likely young and male. If they don't have too much super in their young age, the lessons they learn in blowing up super will last a lifetime. Better early than late. It is like driving, young males that speed will eventually crash and/or wise up.

In reality, many people focus on their super near retirement when they have other assets such as a property and/or share portfolio. So even if they blow up one part of their asset base, they still have other things going for them.