You lost enough to buy an Xbox One and a few games. Hardly life changing. And if you had picked a safer investment, say the S&P 500, you'd have a 3-4% return by now. Another $50-60 bucks. Hardly life changing either. Total amount isn't enough to hold you over long if you lose your job or have a medical emergency in either case.
He said that he lost his life savings...
I doubt he would have bought a new xbox one considering all his savings were around 1000 or 1200 $.
In some parts of the world 1000$ is like 4-5 monthly wages if not more while for western European or american with a good job is almost play money.
Okay, assuming he lives in one of those places, now he has 2-2.5 months of wages instead of 4.1-5.1 he would have gotten with a safer investment. I still don't think the outcome either way is life changing enough to stress out. Other four paragraphs of advice still apply.