Allocation Advice

As anyone who reads my posts knows I'm A PM bull however I have a friend that is seeking my advice on allocation and I don't feel comfortable telling anyone to invest like me and bet it all in commodities.  He has around 1.2mm is 58 and is in it for longterm.  Any ideas Equities versus fixed a simple strategy; I would just like to get a few independent opinions.  I'd rather ask here as any adviser is going to have self motivated advice.

Thanks

I wouldnt put a dime into the market for the rest of the year. Outside my wacky funds (too much actually) I dont have long term money invested outside a few stocks I like.

I have to say I am tempted with that banking ETF with its 6% yield and knowing longer term that banks will not be gone and at these levels you could expect a 20% to 40% bump over a 5 yr period and if you also get a 6% yield that gives you a possibility of 50-70% return and not have a ton of risk longer term.