Your friend needs to become educated more on investing herself so she will literally, intellectually, and emotionally own her investments. Start with:
http://www.bogleheads.org/wiki/Bogleheads®_investing_start-up_kit. They also have a number of book recommendations. They are the real deal.
She should go through that information carefully, figure out what asset allocation she wants to use, and do a written asset allocation plan. If she decides to invest further, I suggest using a low cost provider like Vanguard, since investment costs strongly influence the investment rate of return.
IMO, there is a benefit in having a strong cash position, but everyone has different risk and reward preferences. Your friend needs to understand that investments can significantly and even catastrophically decline and may take decades to recover. It is very painful to see $$ drop big and take a long time, if ever, to recover. Get educated, understand the investment ideas, have a written AA plan, and re-balance yearly. Investing can be very rewarding and fun, but it isn't throwing darts or following some internet guy's prescription. She could step up and post something herself on the forum too.
Best wishes.