Yeah and I really hope he knows what he is doing.
Some alts are still a bit low now though and if those are the ones he is picking, that may still be good enough. Most of the alts have gotten pumped a little and there is a possibility they might get dumped.

If he is trying to hold for the long run though and he is patient enough even when they are falling, it can be an enjoyable ride. No one knows exactly what will happen tomorrow, but you should be sure you are investing in the right alts.