He's saying that if you break a chunk text up into separate string objects, those string objects have worse locality than the large array of text. Each string, and the array of characters it contains, is going to be somewhere else in memory; they can be spread all over the place. It is likely that the memory cache will have to thrash in and out to access the various strings as you process the data. In contrast, the one large array has the best possible locality, as all the data is on one area of memory, and cache-thrashing will be kept to a minimum.
There are limits to this, of course: if the text is very, very large, and you only need to parse out part of it, then those few small strings might fit better in the cache than the large chunk of text.
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