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Robert Kiyosaki
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This is the Rich Dad Radio Show. The good news and bad news about money. Here's Robert Kiyosaki.
Hello, hello, hello, Robert Kiyosaki, the Rich Dad Radio Show. That's how old this is. Our show is beyond beyond before podcasts. So it's called still call it radio. I have a good old friend and longtime friend. I knew of him before he knew of me, Bert Dohman. And in Hawaii, he was infamous for making calls that pissed a lot of people off. But he was all, Bert was always ahead of the markets. And he is now a publisher of a thing called the Wellington Report. And he is as up to date on the markets as possible. And as you know, we're in such I've never seen the market so chaotic. And the reason I asked Bert on today is because my generation, the boomer generation, were the first generation with what's called defined contribution pension plan is called a 401k or an IRA. So that came out in 1974 with an act called ERISA, Employee Retirement Income Security Act. So in 1974, the baby boomers were the first guys whether, let's say, the retirement was not assured. See, up, up until 1974, if you worked for, let's say, Ford Motor Company or Hawaiian Electric and all those things, your retirement was guaranteed. But for the baby boom generation, our retirements are not guaranteed. And I wrote this book here called the Rich Dad's Prophecy. And I was predicting why the biggest stock market crash in history was coming. Now, I'm kind of guessing when I wrote this book, this book was written 10 years ago. But Bert Dohmen of Dohmen Capital Research is up to date. His finger is on the pulse every single day. His publication is the Wellington Letter. I suggest you get it to find out what he sees coming. Because even if markets crash, you can still make a lot of money, but you have to know what you're doing. So, Bert, the reason I want to want you on again is that I want you to. If you were a baby boomer right now and all you had was a 401k, what would you do? Welcome, Bert.
Bert Dohmen
Well, a lot of things, but if you're talking about the markets, I would really. I think education is so important. Most people really don't spend enough time reading. Reading is very, very important. I'm teaching my five grandchildren. And they always say, if you want to be a leader, you have to be a reader. And that is so true. So if you're not informed, you you're starting out on the wrong foot right away. Right now, for example, you know, I make it a habit of when. When I meet people and they ask me about the market and say, okay, what do you have in your. Your 401k? What do you have in your retirement plan? They have no idea. Then I say, well, is it bonds or stocks? I really don't know. I mean, how can people have their life sings in something that they're going to depend on, and they don't even know if they have bonds or stocks or ETFs. I say ETFs, and they say, what's an ETF? You know, so I think it's. People are not doing their homework, and the markets have become very complicated, and you have to learn. They don't teach you this in school. And that's what I liked in the first book that you had that I read, Rich Dad, Poor dad, and that schools, maybe they're doing this on purpose, not educating people of what they need to know in life. You know, like you can go through even graduate school. You don't even know how to. How to calculate the difference between buying a car or leasing a car. You know, you don't. The money factor. People don't know what a money factor is. All these things that you should know by the time you graduate from college, and they don't know it. So you. You always make that point. Maybe this is intentional. They want to keep people dumb. And.
Robert Kiyosaki
My question is, have you ever seen the markets this high and our debt so high? I mean, and if you were 70 years old, a baby boomer, and you had no financial education, or all you have is a 401k and you got probably, let's say you're 70, you probably got 20 more years of life left, and you lose everything in a crash. I mean, is that possible from your point of view, or am I being too pessimistic?
Bert Dohmen
You know, I have been warning about exactly that since the beginning of the year, and I even talked about, you Know, in the olden days, maybe they've changed the margin rule. But I remember the 87 crash. A lot of people that were on margin, they borrowed against the stock purchases. They lost their houses. We had dinner. Somebody came here to our town, Red lunch. I'm sorry. And he worked for a major Wall street firm. He was vp and he told us how much he was traveling. I said, well, you travel so much. Said, foreclosing houses. I said, foreclosing. I didn't know you were in real estate that we're not. But these are people that couldn't meet their margin calls. So I don't know if that rule has changed if you can still lose your house because of a margin call. But I would look into it if I were the average speculator right now. The speculation that's gotten so crazy, ETFs. The first they came out with double leverage, then they came out with triple leverage ETFs. We just had them coming out with a five times leveraged ETFs. That means if the, the stocks in that ETF go down 20%, that ETF is done, it's broke, it has zero value. I mean, do people realize this? No, they don't realize this. I, I have met people because we do have consultation calls and they are short. For example, a triple leveraged etf. The ETF is short. So you buy the etf, triple leverage. I said, do you know how fast you can lose all your money with this? Even when you take some of the Bitcoin ETFs. It's incredible. Here. The ETF, the MSTR strategy has been rising and rising. It was up later something like at 10% for the year. But the ETF that is triple leveraged for that was down 36%. So the people thought they were going to make three times as much as the stock itself. No, they lost their shirt. That's what happens. People don't know how the math works on these levels. Bts.
Robert Kiyosaki
So you know, Bert, so we have a highly educ uneducated baby boom generation. I think it's the largest generation and we have Gen X, Gen Z. You know, I feel for those guys. But if you're a boomer, 70 years old, you look your reports of Wellington report and you know nothing. I mean you're. The Wellington letter is so full of information. But can the average guy use it? I mean, that's my question. I read it and I have a tough time. I'm a real estate guy. Do you know what I mean? But how is a boomer going to save his butt or.
Bert Dohmen
But you know, if you don't understand what is in the Wellington letter, you better start educating yourself because it is written for the average person. This is not full of acronyms like economists. You hear an economist talk and then when he's done, you don't even know what he's talking about because they use all these three letter acronyms. No, the Wellington letter is written for people who are informed. They're not for the person who just found out the difference between the bond and the stock. Those are not our subscribers. You know, they would be unhappy because we, we assume that people do know the difference between, between a stock and a bond. So. But we go from there and we explain how the Federal Reserve works, how they make their money, and how all the stuff you hear on financial tv, much of it is really a bunch of bs. It is totally without value, you know, so we show you where to look. When Wall street wants you to look to the right, you got to look to the left, you know, because the trap is being set for you. When they're pushing one certain sector, like you hear the last six months, oh, private equity, private credit, you got to go into that. So, yeah, that was Wall street trying to find buyers for the stuff that they wanted to get rid of. And they were very successful and reducing their positions in this garbage. It is garbage, total garbage. You know, I mean, these, these companies that they invest in or the credit has really very little value. Yeah, we're seeing it now. There's some huge CR e, you know, commercial real estate ventures are going bust, you know, billions of dollars. There's a one building had 77% occupancy, which is very good, you know, but it went broke. I mean, can you imagine this went broke? People lost everything.
Robert Kiyosaki
So, Bert, you know, Bert, Bert, I think the guys my age or our age know something's about to happen. And the reason I want you on here is this. I would say this, that if they want to really learn what's going on, even if they're little today, they should subscribe to the Wellington litter and start to learn. Start to learn, start to learn. And I know you have other products you can sell them or offer them, but what don't you think it's about time they start to learn and learn from somebody like you who is so technical in the market?
Bert Dohmen
Yeah, well, right now what's really important to learn is that everyone is over leveraged. And I've been warning about that for almost all year. I said, get out of Leverage. Do not be leveraged. Do not have a margin account. Do not buy leveraged ETFs. This is the most important thing. This is the highest leverage that we've ever seen in the history of the stock market, much higher than 1929. And you have to look at some of the videos that. Some great videos on YouTube about the 1929 crash. Watch them, watch those videos, watch them several times and see what led up to it. We'll see what the emotional content was before that and so on. You will see that it's identical to what we have now.
Robert Kiyosaki
What's identical? 1929 to 2025, almost, what, 100 years. What's identical? What do you see that's matching up the leverage?
Bert Dohmen
And the crazy instruments that they tell you these have great value, like the tokens and SPACs and, you know, auto. So the SPAC can't even tell you what they're going to invest the money in. You know, all of this stuff. It's also sheer speculation, stable coins, you know, what is. The owners of the company get all the interest and you get nothing. You get a digital number. It's just the stuff that people are getting. I said, you can't even buy loaf of bread with it. You're putting $100,000 in some. You can't even buy a loaf of bread. So I tell you, I love golden stuff. At this point, at this point, it has been a great year for our subscribers. And we have a special program called Hedge Folios where we have model portfolios that they can replicate and we give the percentage. And we've been mostly in the precious method, gold and silver themselves. And the mining stocks. The mining stocks still look terrific from earnings point of view.
Robert Kiyosaki
Hey, Bert, we have to go to a break, but you know, ladies and gentlemen, you're listening to one of the. I knew of Bert Dohmen before he ever heard of me. Like he was infamous for being. He'd piss a lot of people in Hawaii off because he'd say things that people did not want to hear. So that's why I'm on board today. His. His report is called the Wellington Letter. And I would suggest getting educated by a man who knows what he's talking about. So we come back and we're going to be talking to Bert again about what if you have. If you're just starting out, how could the Wellington Letter support you? How could it put you on a path of understanding the micro as well as the macro of the markets? You see, most people only have the Micro. But Bert takes it all together in a technical chart and explain what's going on throughout the world. So we're right back with Bert Dohmen and we'll be telling how you can get a hold of his Wellington report. I subscribe to it, I watch it, I read it. Because that's how I want to find out what's really going on in the world instead of what CNBC or bubble vision tells us. We'll be right back. We're here.
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Robert Kiyosaki
Welcome back. Robert Kiyosaki, the Rich dad Radio Show. That's how old this show is. We still talk about radio when it should be podcast, Rich dad or Zoom Path, whatever they call it. Our guest today is Bert Dohman, longtime friend. Like I said, I heard about Bert a long time before you ever heard of me. And he was always controversial in Hawaii because he'd say things that people did not want to hear. And I see people you would Burt Doom and said, oh, that lying sound of a bachelor. And then he was right. So I'm going to talk about his. His report is called a Wellington Letter and it's well worth subscribing to because it is so nutrient rich with information on if you're going to understand the markets from a week, from a day to day, week by week, year to year return. It's a great place to start if you're dedicated to sitting, reading and understanding what Bert is saying. You see, we talked about 1929. There was 19 what, 87. There was the dot com bust and, and then there was the 2008 bust. And that's how I could write this book here, Rich Dad's prophecy. I said, they're not fixing the problem, they're making the problem bigger. And I'm concerned with my generation, a boomer generation. They're the first generation with a defined contribution pension plan. There's no Ford Motor Company behind the Vaum or generally electric. The boomers are on their own. They have a 401k or an IRA and they have no idea what's going on. So that's why I invited Bert on to. I encourage you to. I get nothing of this. I encourage you to subscribe to Bert's newsletter and start getting educated. If you don't understand anything, just start. We all start with nothing. But Bert's going to talk about something I think is kind of interesting is all these guys going into day trading now and the technology has changed. Like Brett says, he doesn't do that technical trading as he is a market's up and down and all this because today you're trading against the machines and the machines will kick your ass all day long. So Brad, if you can start with that, how dangerous is it to trade against the machines? Right now?
Bert Dohmen
Yes, it's a very good topic because I used to be a short term trader. Not day trader, day trading. I think it's for fools. But in the short term, you know, for a few days to a few weeks you'd hold the stock, but you can't do it anymore. Now the elbows and the high frequency trading, they're geared to take advantage of you and that's what they do. If you're a good chess player, you can, you can probably figure out what they're planning to do because in chess also you have to know how to fool your opponent. And I used to be a very good chess player and my brother, in fact, he was a state chess champion twice. And so we played a lot of chess. He would just lie on the floor of the living room without a board even and I would say what my move was and he would say what his counter move would be. He wouldn't even see what I was doing and he would still beat me, not even looking at a board. So he was fantastic. But anyway, but the high frequency trading, these guys here, as I said before, they can enter 90,000 trades per second, trades, not shares, trades. And I someone, hey Bert, did you.
Robert Kiyosaki
Say they can do 19,000 trades per second?
Bert Dohmen
909000 holy.
Robert Kiyosaki
How can anybody beat them?
Bert Dohmen
Yeah, those are machines. So they're super fast computers. And so I know here locally very well a person who's known to some people as the godfather of high frequency training. And he supposedly started this whole industry and he was telling me they would enter a lot of trades all day long. And he said if we made on a trade of let's say 10,000 shares, if we made 6 cents, something like that, we considered that very big because you do that a million times and it adds up to real money. That's all it's about. They do it again and again, every time they make a few pennies and then more trades. That's how they make money. And we are the suckers, the public. The public is the suckers. They know how to fool the people they look at. Where's the public position if they're all long AI, then like we just saw in November, we see the downturn. For example, at the beginning of November everyone was bullish because it was start of the year end rally supposedly, right? And I said it's not going to happen. We're going to have a very sharp correction during November just to fool everyone because everybody's long now. Everybody has own stocks ready for the year end rally. November December is the year end rally. And so we were having a big correction. You know, even the cryptos, the cryptos in fact let the way down and big, big declines in those, you know. So the one thing that didn't decline very much is the precious metals, gold and silver, you know. And here again here's something that has real value. You know, you can touch it, you can feel it. And for thousands of years gold has been the store of value. So that's, that's what I personally like.
Robert Kiyosaki
This is my gold mine here. I took it public on the New York Stock Exchange ODV to do that technical trading. I signed up for forget his name Alexander Elder. Welcome to my trading room. And I, I tried my brain, I'm a real estate brain. I'm real slow and so when I was doing what you were doing I was going I can't keep up with these guys. I mean just my brain didn't function that way. But it doesn't negate the information that your Wellington Bart sends out. Even if you're 20 years old, subscribe to Bart's newsletter and start educating yourself as the ups and downs of markets. It may save your butt one day. So how much does your letter cost? How do they get a hold of it?
Bert Dohmen
It's 750 a year and you get a but two issues usually about 25 pages long, single space and it's probably the most information that you will get in any newsletter.
Robert Kiyosaki
I agree 100% you will learn more for 750 a year. Or you could go to Obama's what is called get your college, your college degree and learn nothing and be in debt what 1.8 trillion student loan debts today and learn nothing. Or you can subscribe to Bert letters if you're 20 years old or you're 70 years old. I would start by reading Bert's letter on a regular basis because it'll open the world to a whole, you know, to what's really going on in the world because it's one of the most informative newsletters I've ever seen. That's why he's on the program here.
Bert Dohmen
Thank you for your compliment.
Robert Kiyosaki
Yeah. So again tell how can they get in touch with it? How can they subscribe to the letter?
Bert Dohmen
Well right in the background is Dohmen Capital Research. It's the website is dohmencapital.com and all the information is right there and also has the information our trading services we do have the services for traders that come up couple of times a week and so on. So it's for people somewhat shorter term oriented, but not D D. We do not do day trading. We don't even touch these. Do you know that they have options now on stocks that expire in one day? They, they start trading early in the morning. At the end of the day they're gone. End of day options. I mean it's, it's ridiculous when you consider this. And the ETFs for single stocks, they have ETFs. You know, the ETF only has one stock in it. I mean we are seeing a casino. Wall street has become a casino. But that doesn't mean you can't make money. I still love investing. As for me, it's still the best way to make money. You know, I started when I was in college. I started with $400 and I was in graduate school, didn't have much money and I started trading with $400 and yeah, and then a few years later I graduated, I went to Geneva, Switzerland where I could trade on 10% margin, whereas here in the US it was 50% or 70% margin depending on what the SEC decided.
Robert Kiyosaki
What can a person do? That's the most important question. When they study, they start studying. You are, let's say with Wellington report.
Bert Dohmen
Letter I mentioned the word technical analysis and you think it's complicated. But I'm saying that is the secret sauce of high frequency trading. This is what they use and nobody knows this. I discovered that they used technical analysis from A to Z. I've never seen technical analysis work as well as it has now. You can, you can get the, the, the, the downside tick and a decline immediately to the, to the dollar. To the dollar. You can, you can find out where it's going to stop and where it's going to start going up again.
Robert Kiyosaki
Look, whether regardless if you're in stocks or not. See, I'm in, I'm basically a real estate, oil and precious metal guy. Yeah, I still have to read your letter. That's what I'm saying. You know, too many people are or only in stocks. I, you know, I make more money per month than people make in a lifetime. But it's cash flow. That's why, that's why my game is cash flow. How much income, how much income comes in, whether I work or not. That's my game. So the Wellington report is for everybody is what I'm trying to say. Not just technical analysis and all this.
Bert Dohmen
It is everything, the whole economic background. It also we talk about how the economic numbers that are published really deceive. You. They're meant to deceive you. And finally we talked about the jobs numbers all the time. I said all those jobs numbers are false. They're false. And finally President Trump said they're false. And he fired the head of the Bureau of Labor Statistics. We call it the bls. That's the Bureau of Labor Institute. I always call it the Bureau for Lying Statistics because they're all lies, right?
Robert Kiyosaki
And then right now Everybody's hot on AI. Everybody's jumping on bag wagon. It's like the dot com, the dot com, what, 2000 or something like they'll always find something to hype you up, but you know, nothing. It's a get rich quick mentality. So, Bert, I want to thank you for being part of this show again once how do they get in touch with the how how they subscribe to the Wellington report letter and how much does it cost?
Bert Dohmen
Yeah, it's dohmencapital.com is the website and it's the Wellington is $750, but the trading services go up to $6,000 per year.
Robert Kiyosaki
Anyway, thank you, Bert and good luck to you and thanks. Thanks for keeping up the holding.
Bert Dohmen
The champ to see you again.
Robert Kiyosaki
Okay, thank you.
Bert Dohmen
All right, all the best. You and I will wish your viewers great success in the markets and don't be leveraged.
Robert Kiyosaki
Thank you. And we're right back for the final word.
Bert Dohmen
All right, bye.
Robert Kiyosaki
Thank you, Bert.
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Robert Kiyosaki
Welcome back Robert Cusack the Rich Dad Radio Show. And I want to thank Bert Dohmen. I wrote this book again, Rich Dad's prophecy. Why the biggest stock market crash in history is still coming. I think it's here. And so that's why if you're 20 years old or 70 years old and you haven't started, you know, if you have no financial education, of course I recommend Rich Dad, Poor Dad. But it's not as data driven as the Wellington letter is. So Bart's letter is. Even if you don't understand all of it at the start, please start. You know, start look, reading a little bit at a time is so packed with information, much of it you may not be able to use. But as you get more educated, it becomes more valuable and more priceless because as Bert will tell you, you don't care if the market's going up or down. Because if you understand markets, you can make money going either way. So it's really tragic right now. I'll say it again. My generation in 1974 was ERISA was pact passed Employee Retirement Income Security Act. I knew when they said that everything the government says income security I knew your income wasn't secure. And it was the first time boomer generation had defined contribution pension plan. That defined contribution means you only get what you put in. But if it gets wiped out, you've lost everything. Whereas my father's generation, poor dad, he worked for, let's say, let's say he worked for Ford. If he did, worked for Ford Motor Company, he was guaranteed a pension anyway. The boomers don't have that luxury. So that's why Bert Dohmen's report, the Wellington Report, is extremely important for those who want to start their financial education and know what's going on in the world. Again, Rich dad, we make no recommendations. I do have gold mines. I do own a lot of gold and silver. But I've been doing this for much of my life. So I started. I knew nothing when I started. But as my rich dad said, you know, he says you've got to start and most people never start. So I started in 1974. Actually, I started in 1965. But that's why I'm a rich man today and not a smart person. But I started early. So please start because today is the first day of the rest of your life, as they say. So thank you for following the Rich dad radio show and I wish you the best. We're going through some very turbulent times. Please take care. Thank you.
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Host: Robert Kiyosaki
Guest: Bert Dohmen, Publisher, The Wellington Letter (Dohmen Capital Research)
Date: November 19, 2025
In this episode, Robert Kiyosaki invites his longtime friend and renowned market analyst Bert Dohmen to address the alarming risks facing baby boomers—and anyone—relying on 401(k)s and IRAs for retirement. With markets at record highs, leveraging at historic extremes, and complicated financial products proliferating, millions could see their retirement wiped out in the next downturn. The discussion challenges conventional wisdom, offers candid warnings, and urges listeners to prioritize financial education to weather the coming storm.
Learn more or subscribe to Bert Dohmen’s Wellington Letter at dohmencapital.com.
This summary omits all advertisements, introductions, and non-content segments as per instructions, providing a clear review of the knowledge and advice shared in the episode.