Warning Signals That Bubbles Are Bursting - Robert Kiyosaki & Bert Dohmen
(upbeat music) - [Announcer] 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," The Good News and Bad News About Money. And today, we have, I don't know how to say it.
It's probably the most important show you could listen to at this time in history. And for those you wanna preserve your wealth, and hang on to your shorts, please listen to this program, because we have a very, special guest today. He's a friend, neighbor from Hawaii. I mean, his name is Bert Dohmen. He is loved and hated, but he's always respected. His product is called The Wellington Letter.
And the thing, the reason I respect dirt, (chuckles) Bert is because, all of these years, every time he writes, he doesn't talk about bs you know, blue sky. He always has the facts and figures so that you can make up your own mind what you should do. And the reason today's Rich Dad radio show is important, the world is now changing so rapidly that if you're counting your 401K, I will pray for you tonight. Any comments, Kim? (Kim chuckles) - Well, I love having Bert on our show.
And Bert's the author of "Prelude to Meltdown" and "Financial Apocalypse." He's also publisher of The Wellington Letter, of which we subscribe to. And what I love is, he is the founder of Dohmen Capital Research. And the word is research, and he does his research.
He's not just giving you opinions and basing it on a few little things. He is majorly researched these markets. If you wanna better understand the markets, not just the stock market, but all markets. If you wanna really better understand the market, then pay attention to Bert Dohmen. - And the reason Bert's important is because his Wellington letter is nothing but facts.
- [Kim] Yes. - Not BS. It's like I listen to these characters, "Oh, Bitcoin's gonna go at 250,000 this year." Or, "Ethereum's gonna beat this," or "Gold's gonna go here" or "The stock market's gonna go here." That's not Bert Dohmen. His Wellington Letter is priceless if you want to know the facts. So, that's why we have him on today.
And there's something going on in the market today that is very, very, very, very frightening. And if you go, "Oh, I'm gonna buy some real estate. Oh, I'm gonna have my 401K." 'Cause I hope you have rosary beads 'cause I'll take laps around it for you tonight and pray for you. So, anyway, Bert has been a friend, I mean, for 40, 50 years now. And my neighbors hate him because he always says things like, "Hey, what does Bert know?" You know? - Well, they don't like him when he says the market's gonna go down.
- [Robert] Yeah. - That's why they don't like him. - [Robert] Yeah, I mean- - The market has to go up, it has to go up, it must go.
- And all of these optimists, what I call it Fantasia, pixie dust and flowers, and little angels floating in the sky. That's not Bert Dohmen. If you want pixie dust, watch CNBC. So anyway- (chuckles) - Bert, welcome. - [Robert] My friend, Bert, welcome to the program.
- [Bert Dohmen] Hello Kim and Robert, It's so nice to be with you again after all this time. And really you make me blush here with all your compliments. You know, I dunno if it's all deserved but- - [Kim] It's well deserved. - [Bert Dohmen] I've been around in the investment area.
Our business is 45 years old now. And after a while you get a hang of it. You find out what's important, and so on.
And the thing we always try to tell people why. If we have a forecast, why do you think this is going to happen? And so many analysts don't give you the why, you know? - No. - [Bert Dohmen] And that is very important.
You have to see why is it happening? - Let me just say that, I want everybody please hear. Rich dad makes no recommendations. We don't say buy this, buy that. You want a 401K, knock yourself out. I mean, you're the biggest loser I've ever had in my whole life, because the 401k was only designed to make Wall Street rich, but everybody has a 401k.
I mean, you want to be a loser, keep doing it, but your best and fast would be the Wellington Letter. So, I'm going to be upfront about that because I look forward to Bert Dohmen's Wellington Letter coming in, 'cause I just want the facts. I don't want the bs, the blue sky.
So Bert, give us the bad news now. I mean, how far away are we? (chuckles) I mean, what do you see happening? - [Bert Dohmen] Trump's saying is the good news. The good news is that markets will go up, and markets will reach very euphoric stages in the bull market that's driven by record-setting liquidity put in there by The Federal Reserve, you know? We're gonna have here before they get them between Congress and The Federal Reserve. We're going to have about eight trillion, possibly 10 trillion, depending if all the programs go through, of new artificial money.
This has never happened in the history of mankind, money out of thin air. And that has its consequences, not immediate. But the first part is wonderful if you know how to take advantage of it. The guys on Wall Street, I bet they must be popping their champagne corks every night, because for them, this is beautiful. But at the end, you gotta pee. I always say, the hangover after a party is always directly proportionate to the amount of fun you had.
And this time we're having a lot of fun. You know, I mean the speculators that have never been in the market before they think this is how it always is, you know? You just buy a stock, or you buy an IPO, or you buy an electric vehicle company that has no cars, no product, no sales, therefore, no earnings and all they have is this business plan, and they'll sell you their stock for $5 billion. You know, all of these crazy things. Then you have Bitcoin and Ethereum, and all of these things. You know, these are... The Bitcoin, this is a figment of people's imagination.
(chuckling) There's no intrinsic value. People think it has value because it trades. But what is behind that? And the end, it's just nothing.
- Well Bert, hang on. Bert, Bert, Bert, Bert!, Bert hang on! - [Bert Dohmen] Yes sir! - You know, like I was watching CNBC the other night and they have this 19 year old kid who made a million dollars trading Game Stop or AMC, from the Reddit crowd, and now he's the expert. I'm going... - [Kim] He's 19?
- He's the expert, because he made a million dollars. But Bert, you and I are the old guys. The question is next year, will he still have the million dollars? Isn't that the question? - [Bert Dohmen] Yes, that's exactly it. And then usually they don't. (laughing) I mean, there are so many people.
These are overnight wonders. You know, I've had people come to me and say, "Bert, how do you get registered "as an investment manager with the FCC?" And I said, "What makes you think you could manage money?" They say, "Oh wow, the last three months "I had a terrific run with options. "I want to start managing money with options for people." And I said, "Because you had a good run for three months "you think you can manage money in the option market?" That's the most ridiculous thing. You cannot make money longterm in the option market, unless you have lots of experience, lots of experience. - And Bert, Bert, Bert, how about this...
- [Bert Dohmen] We have a record of the amount of money in the options market. - Hey Bert, what do you think about people want to short the market right now? - [Bert Dohmen] Not right now. There will be a time when it distributes- (Robert laughing) - But do you know what I mean? - In February- - Hey Bert, the reason I'm saying this, is because when I'm watching the news, if all these experts come on and most of them, were still, they weren't even born around the year 2000, But they're now the experts everybody's listening to, and all they've ever seen as a bull market. And what happen in 2008, that market went up and came down and then it set off the biggest bull market run in history.
And now it's 2021. And the reason I want people, or I suggest people read the Wellington Letter is because you'll have the facts, the charts, and the rationale of history, rather than listening to Bubble Vision, CNBC or Bloomberg, or all of these people who need sensationalism to sell eyeballs that people want to come and listen. Like I listen to this guy Max Kaiser, it's now $220,000 for Bitcoin.
Well, I hope he's right. You know what I mean, a smart boy. He's been in the business for a long time, but he's got an agenda. Bert Dohmen doesn't have an agenda. Bert Dohmen Wellington letter is to educate you about the facts and the figures. - So Bert, you said that eight to $10 trillion is being pumped into the economy right now.
What's that impact going to have? And how long is that going to last? - [Bert Dohmen] Well, nobody can ever predict this because we've never seen this before. Okay, so we cannot even go by experience. The closest thing that I have found, and I wrote that a year ago, I said, we're going to get into a situation similar to the late 1970s, '78 to 1980. Double digit inflation, which drove interest rate. Crime rates went to 21.5%.
That was on December 10th, 1980. And so you go through these phases. The situation I see now is very similar to that. Especially the attitude of the Federal Reserve, which is driving all this artificial money.
But this is now times 100. Okay, this is so much bigger and more immense. This amount of money, we've never seen this before- - Hey Bert, hang on! - [Bert Dohmen] The last time I saw the head of the Federal Reserve on TV, he was so drunk- - Bert, Bert, Bert, Bert! Bert, hang on, okay. This is what, give you some facts and figures.
In 2008, when the market crashed, those clowns Paulson, and those guys said, we're going to pump in 700 billion. Today, they're pumping in trillions. Now, if you can get the difference between a billion in 2008 and trillions in 2021, you may understand why Bert's message today on the Wellington Letter is important. Because when I was a kid, I used to try and build a house out of cards. You know, we'd sit there and play cards and you'd see me build this. But eventually, the house of cards always comes down.
So please hear what I'm saying, you guys. If you listen to what everybody else is saying, you're going to get caught in one of the biggest crashes in world history. When it's coming, I don't know.
And we don't recommend what you do, but we do recommend you get educated. And I understand what you mean- - [Bert Dohmen] Very well said, very well said. - They're printing trillions of dollars. But the thing I want to talk to you about today is where is that money running to.
That's the biggest questions on the reverse repo market, which 99% of the people have never heard of the repo market. And that's what's covered in your latest Wellington Letter, is what is the reverse repo market, and what is the repo market. Kim we've been studying that for quite a while.
- Yeah, that still boggles my mind. So, can you just give us as simple as possible, I know it's a complicated subject, but can you Bert, give us a simple explanation of what the repo market is, and what the reverse repo and the effects. - [Bert Dohmen] Yeah, we had a little mini crisis in the repo market in 2019.
- September 17th, 2019, I know the date exactly. Interest rates went to 10%. (chuckling) (indistinct) - [Bert Dohmen] Suddenly, the repo market, first, let me explain what it is.
It's overnight money. Banks need to have reserves at Federal Reserve. They have a certain reserve requirement, okay? So they park that money at the Federal Reserve, okay? And this is overnight money. So when suddenly they're a little short on the reserves that they have to put up, they go to another bank and say, "Can I borrow 10 billion dollars overnight?" Okay? And the other bank that has excess reserves, they then give it over, just for overnight, okay? But we had in 2019, suddenly the banks that were lending the money overnight, refused to do so. They for some reason, they were probably fearing something that they would not get the money back the next day. And they stopped lending.
Then the Federal Reserve had to go in there and they had to pump in $250 billion overnight just to keep the market liquid. And then they finally saw that the traditional lenders were not really returning. And then they made that a lending facility be continued into year end.
So that from September to the end of the year, and when we saw this in September, that said, because we had a good correction in the stock market before that. - So what happened in March of 2020, it went reverse repo. They had to, instead of injecting money in, the bank started pushing money into the fed. There's two banks in the world today, The big banks like Goldman Sachs, Wells Fargo and all that. And there's the fed.
So the money started coming out of the banks and flowing into the fed. That's a reverse repo. And the reason this month's Wellington Letter is so important is if you understand what happens is the money is flowing out of the banks. That means your money market funds, OR 401ks and all that, the banks are running.
And that's what I want people to understand right now. So that's why what Bert writes about is crucial to understand, 'Cause it's not about, should I buy this stock or that stock, or is real estate a good deal and all that. Those are for idiots, and those are idiots. I just go nuts.
- So reverse- - [Robert] Please hear me. Please understand the difference of what Bert is talking about is there's two kinds of banks. Regular big banks and the Fed, and the money is running right now out of banks into the Fed.
That's a reverse repo. - And so, who's doing that, and why is that happening? - [Bert Dohmen] The Fed is doing it now. So what happened in 2019 was a regular repo.
That's putting money into the system. Okay, that's very good for the stock market. What is happening now? The Federal Reserve is taking money out of the banking system. That's why they call it reverse repos, okay? Started about four weeks ago with $300 billion, 400 billion overnight repos.
Now we're up to almost $1 billion overnight. And it's forecast that probably by end of August, might be up to $2 trillion overnight that the Federal Reserve is taking out of the system. - Hey, Bert so we'll be right back with you. The point I want to get here as this is that if you're prepared for this, this could be the best news for you. You see what happened in 2008. - [Bert Dohmen] Yeah, if you're prepared, then no matter what happens, you can make a lot of money.
- Yes! - [Bert Dohmen] Even if it's the end of the world. Before the world ends, you can still make some money. - Yes. (laughing) - [Kim] Before the world ends. (laughing) - So Bert, that's why my neighbor in Honolulu, or Waikiki where we live, every time I talk to her, "Bert is so bearish." I said, "I don't know, I hear it as good news."
And that's why the Rich Dad Radio Show is the good news and bad news about money. When we come back, we're going more with Bert Dohmen. I want you to please understand that if you're in the 401K or you think real estate prices will always go up, you may be in for a major surprise. We'll be right back. Welcome back. Robert Kiyosaki, "The Rich Dad Radio Show", the good news and bad news about money.
And again, we don't make recommendations. We don't say buy this, buy that. We don't say get a 401K or buy real estate, and all this. We're purely educational. But if you're an idiot, then I can't help you. And so today we have a very special guest.
His name is Bert Dohmen. He's been a friend for years, and years and years. He's infamous in Hawaii, where Kim and I come from. And like I said, a lot of people love him and hate him, but he's pretty accurate. He has a newsletter, it's called Wellington Letter. I highly recommend people subscribe to it, because it's not predictions, it's just the facts what is going on today.
And today we're talking about the repo market, and the reverse repo. 'Cause remember I said September 17th, 2019, the repo went up to 10%. I went, holy mackerel, what does that mean? It didn't even make the news. The Kardashians made the news, but the repo market never made the news. And what happened in 2007 when the repo market went up, the subprime market crashed.
And so that's why what Bert is talking about today is we're now in reverse repo. And it's about how the systems works. So before we go on, Bert would you tell people how they can subscribe to the Wellington Letter? - [Kim] Can I interrupt for one second? Because to get a taste of the Wellington Letter, Bert actually has a special offer for our audience.
And if you go to Dohmen, D O H M E N, dohmencapital.com/richdad, he's got a soon to be released report called "Proving Wall Street Wrong." How you can catch the next major bull market top. And that gives you a very, very good taste of what the Wellington Letter is about. So it's dohmencapital.com/richdad. - And we make nothing on this.
We just want you- - [Kim] Yeah, this is education. To at least be aware of what's going on. - [Kim] Yes. - So Bert, how do we subscribe to the Wellington Letter? - [Bert Dohmen] Thank you very much.
You know, with that report, let me just say, we put a lot of effort into that report. It's full of examples of important tops and bottoms that we cut over time and why, and how we identify, you have to know why. And we do advanced technical analysis, which actually tells us if the big money, the big smart money is flowing out of the market or into the market. And that's what drives the market. And what you hear usually in the media is, oh, earnings are going up or earnings are going down. That's all irrelevant.
- It's $5 95. And what's the bonus right now, "Proving Wall Street Wrong." What is this bonus? - It's a report, I think it's around 25 pages. Basically how to catch the tops and the bottoms. Proving that what Wall Street says about nobody can time the markets, is a feeble.
They may not know how to time the market, or don't want to time the market, because somebody, you always think, when you get free advice and the Wall Street advice, is free all day long, you have to say, "What is in this for them?" They have to have back holders on the way down. When the stock market crashes, somebody has to hold all these stocks. And the average investor is elected to be that bag holder, okay? So he has to become very bullish at a market top. So somebody can hold all these stocks all the way up.
And at the bottom, then the fear mongers come out, you know? - You talk about some of the warning signals to look for. So what are some of the warning signals that we should be paying attention to that are coming down the road? - [Bert Dohmen] The credit markets are so much bigger and therefore so much more important than the stock market. By the time the stock market starts going down, it's already too late for most people to get out.
The warning signals come from the credit markets. And we talked about the repo market before, that is part of the credit markets. This is where the warning signals come in, the warning for something bad. And also the alert when something good is going to happen. Like in September, 2019, when we had the repo crisis, the Federal Reserve was putting this huge amount of money into the market.
And we said, buy stocks, it's gonna go up into the end of the year. And it did. It was a great opportunity. So watching the credit markets is so much more important. - So, in your letter and in your report, you're talking about these different warning signals that you need to pay attention to, which I think most people never understand if you're not educated.
So, that's a big reason to get these reports. - And I wanna add this one more thing. It's about study.
If you don't want to study, then just buy a 401K. Just go to school, get a job, pay your taxes, get a 401k and buy a house because it's an asset, when it's really a liability. But the thing, what Bert's Wellington newsletter, it's an educational piece. It's not stock market or real estate, or bond market hype. Like on the front page, it says 50% of all trades are off the exchanges. That means it's all insider trading.
100, almost 100% insider trading. In other words, the market has already changed before it even makes the news. - So when the Fed, as you were talking about was pulling all this money back, what does that do to the markets? How does that affect the economy? - [Bert Dohmen] Less money available for speculation.
Let's face it. We have seen probably the biggest speculative bubble in US market history, okay? The only equivalents that you can see in history is the south sea bubbles 200, 300 years ago. (indistinct) Yeah, so we have seen so many medias and different market sectors. Things totally worthless, a car manufacturer doesn't matter, in fact anything that says Excel spreadsheet and say, "This is what we want to do." And then the investors give them $5 billion in the stock market. This is the kind of thing that doesn't work in the longterm.
It always leads to an implosion because there's no foundation. The whole foundation right now is like a Swiss cheese full of holes. - We're running out of time. But Bert, I want to sell you're Wellington Letter, because I don't make jack off of it.
I just want people to study, or you can just go to school, get a job and ask your teacher about a 401K, as what's 99% of the American public is doing. And exactly as Bert says on the front page of the Wellington Letter, 50% of all trades are off the exchanges, and invisible to the average investor. That's why you want to know about the Wellington Letter. So how much again is it, Bert? - [Bert Dohmen] $595 per year. - That's one of the best investments you get, if you study. If you don't want to study, watch CNBC.
- But also go to dohmencapital.com/richdad, and get his new report, "Proving Wall Street Wrong," which is going to be a great, great indicator of what the Wellington Letter is all about, so..... - So as a writer, let me tell you the reason I subscribe to Bert is simply because what he does is so timely, but it's also historic. And that's why I read it. I study it, I don't just read it, I mean, I study it. And I get to go with my friends, not all of them, but we study.
And if you want to protect your future, it takes study. 'Cause the biggest thing is this. Is in 2008 when I saw the repo market crash, at that point, Kim and I backed up with Ken McElroy.
We invested $300 million in real estate in 2008. That's why we're rich today. But because Bert's letter, and that's why I get upset with my neighbor. He says, "Well, Bert's so negative." I said, "Well, 'cause you're negative."
And you're an idiot. I mean, bad news can be the best news you could ever get. Is that correct, Bert? - [Bert Dohmen] Well, he may be uninformed. (Kim laughing) - He just wants the market to go up, up, up, up. So, whenever you say there's going to be a correction, there's going to be... So let me just ask, again, 'cause I don't have, I know I'm not asking you for a crystal ball, but the money's going out now.
It's at an all-time high in the markets. What, is there a timing mechanism we should be paying attention to, a warning signal for when the whole thing, it does implode? - [Bert Dohmen] Yeah, we are known for having caught in 45 years of our existence, every stock market top within one or two days, sometimes to the exact day. And I don't think there's anybody else that has done that. At least, I don't know of anyone.
And that's because we use the credit market analysis as a background that gives us the background scenario, of what to look for. Like right now we're looking for signs of it now. Was sometime this summer.
And then the technical analysis tells us the money flows, going into and out of stocks. And that's really, really important. And people always look at what's the DOW doing? What's the S&P doing? These are very faulty indexes that they invented to really pull the wool over people's eyes. When you see the DOW industrial best 30 stocks, it's very easy to manipulate 30 stocks, and give the impression, oh, the DOW is going up, everything is fine.
No, but 30 stocks are going up, but there dozens of stocks out there, and they may all be going down. And the S&P 500 is basically controlled by about 15 stocks out of 500 stocks. The rest of the stocks, they don't even matter because it's capitalization weighted. So we use other indices.
There's one index that we use quite a bit. That's the Value Alliance, it's 1,600 stocks. And it's not capitalization weighed.
So it's not faulty. It gives you the true state of the stock market. So you want to look behind the scene.
There's an old saying, what everyone knows in the market is not worth knowing. (laughing) - Good. Good line. - So Bert, we're out of time.
I thank you, my friend. You're Wellington Report Dohmen capital research is priceless, especially today. Especially for baby boomers, because I think a lot of baby boomers like finally coming to the realization that 401K is not gonna carry them through retirement.
And I think that would be, if anything would put ice on your veins, or puts chills on your heart, that would be it. What's going to happen when you're 70 or 80 years old and you're out of money? And there's going to be lot of baby boomers. You think homelessness is bad now, it's only going to get worse. So that's why I want people to subscribe to, Bert's Wellington Letter and go to Dohmen Capital Research, and 500 or 600 bucks is cheap. Right Kim? - It's absolutely cheap. - [Bert Dohmen] Yeah. - It's actually cheap.
- So Bert, thank you very much. - [Bert Dohmen] You know, I think if people would really spend time reading. Nobody, the younger people don't read books anymore, and that is such a mistake. They think they can get everything online. That is an error. The best reading, the best education comes from books, you know? And when I was in graduate school, there was only one book on technical analysis in the library of the university.
And that was written in the 1930s. Now there are literally thousands of books. So, it's much better.
But you have to read, read, read, and be informed. Information is power, and it's in your head. I grew up in war-torn Europe, and in Germany, everything was bombed out. The cities were flat, and rubble everywhere.
- You're talking about Chicago aren't you? (chuckling) Or San Francisco? - [Bert Dohmen] It's getting to be that way. - Okay, thank you, my friend. I want everybody to get the Wellington Letter, especially this last thing on reverse repos. Thank you, we'll get you on next time. - [Bert Dohmen] Take care, thank you very much. - Bye Bert.
- [Kim] Thank you. - [Bert Dohmen] Yes. - Welcome back. Robert Kiyosaki, "The Rich Dad Radio Show", the good news and bad news about money. I'm want to take my old friend, Bert Dohmen.
He's our neighbor in Hawaii. And everything I say is true. That guy is either loved or hated. And it's all the optimist who live in Fantasia land that hate his letter.
And they go, "Oh, he said it's going to crash." I said, "Well, markets go up and markets come down." I don't know! But I agree 100%, what he's saying right now, this one is going to be the biggest in history. And I want to be prepared for it. Any comments, Kim? - Yeah, well I wanna reread the Wellington Letter, because after talking with him, I'm realizing that there are definitely indicators that can start paying attention to.
And I mean, how can people not understand that at some point, this market is going to come down. At some point it has to. They keep propping it up, propping it up, propping it up. And at some point it's gotta come down, so....
- And the point is, they listen to people who have something to gain by the promotion of it. Like I say I buy Bitcoin, but I don't say you should buy Bitcoin. And the people that want you to buy Bitcoin. Oh, it's going to go to a million, too. Well, that's their opinion. I hope it does, 'cause I own some Bitcoin, but it doesn't mean it's going to go up to $1,000,002.
- And we also don't say buy gold and we have gold. Yes, but so you're on this, on TV all the time, on this gold and silver ad. And people go, "God, he must have gotten paid "a lot to say that." I'm like, "No, he didn't get paid anything." No, we don't get any royalty of anything they sell.
We don't get commission, we get nothing. We don't do it for that, we don't do it for that. - Then I was in Miami with George Gamma. I just feel, I mean, I'm glad that people show up, and they sit there, but they still have, "I went to school, tell me what to do." - [Kim] Tell me what to do. - And if you listen to a school teacher, you'll wind up like my poor dad, PhD.
Poor, helpless and desperate. You have a 401K, and when this thing comes down, that 401K is toast. And the 401K, historically came in at 1974, just when after Nixon took the dollar off the gold. That's just some trivial facts, but the reason it's so hyped up right now, is because they could print money.
And that's why the repo market, and the reverse repo and all that stuff may sound complicated to some people. But if you understand it, you have a better chance of surviving or even thriving. 'Cause in 2008, Kenny and Kim, and I borrowed $300 million and we bought the best real estate in all the world at bargain prices, with interest rates at near zero. I thought I died and went to heaven.
But then my neighbors says, "Oh, you're so negative." Said, no, you're an idiot, that's the problem. And it comments there, Sara. - [Sara] All of this reminds me of, remember like a year or two or so ago, we did a series of videos where you're blowing up this green balloon? - Yeah. - [Sara] And it was a warning to people that it can't be blown up forever.
Eventually, it's going to pop, and that's like history repeating itself. we always say what people don't learn from history is they don't want anything from history. - Yeah, that's Jim Rogers.
So please, Bert Dohmen is, he wants you to win. But he puts most of his information, not in his voice, but in his newsletter, the Wellington Report. And for 600 bucks, it might be the best investment you'll ever make, simply because you might not lose as much when the next crash comes. Any further comments? - [Sara] Just want to remind listeners that they are doing a special report, and it's first available to Rich Dad listeners.
So all you have to do is go to dohmencapital.com/richdad, and be the first to get this new report that they're putting out, and it's free. That report is free.
- Yeah, and please read his letter. I read it, I study it. I mean, Kim knows I study it, but that's how I get smarter. And that's how I can call the tops, call the turns. That's why I get richer when markets crash. What is that worth to you? What is that worth? Final words, Kim.
- Again, I want to say about Bert Dohmen. What makes his information so priceless and is because it's Dohmen Capital Research. It's research, it's not opinion. And you will see in his newsletter, and you'll see in this free report, it is chalked full with charts and graphs, and details and statistics.
He does his homework and he has a team that works with him. And he's been doing this for 45 years, and he's got a hell of a track record. So, it's research, it's not opinion.
- And every month, wherever this thing comes out, this is June 20th, 2021. If you can get this issue, ask for it. But this is chalked full of information. You just don't read. It's not like reading Playboy, or something like that. (chuckles) You really gotta study it.
So they put all this information in here. The reason I'm on Bert is because he cannot tell you, but he can write about it. And his information is priceless. And I just crack up every time somebody says, "Oh, he's so negative." I'm going, the facts are negative? Well, you should vote for Biden and Kamala, if you want positive. Do you know? I mean, I just don't understand people who come up to me.
I mean, Kim saw me in Miami. I was, "Oh, should I buy real estate, "or should I buy stocks?" I'm going, I lost it. - Here's the last thing I want to say, is that people think they're really, really smart 'cause they made money in this stock market. Well, this stock market has been going up, up, up, up, up- - [Robert] Since 2008. - And they think they're geniuses because they made money on an upward rising stock market.
Well, what happens when it starts to come down? Are you prepared? Do you know what to do when that stock market starts to come down? Can you benefit from it? Can you make money from it, or do you only know how to make it when it goes up? - Yeah, and if you really want to understand more about the repo and and reverse repo, George Gammon had a very important podcast explaining repo and reverse repo, because that's really where the money is made. It's not in the stock market. So I thank you all for listening to "The Rich Dad Radio Show." I thank my really, really good and old time friend, Bert, and may you guys get educated. Again, we take nothing from this.
We make nothing from this. We just want you guys to win. But you have to do the work.
You have to put in your own brainpower. So thank you for listening to "The Rich Dad Radio Show." - [Kim] Thank you.