The thing I like about the management of this company is that they have been buying back shares at a phenomenal rate over the last five years, paid out good dividends during this time, and while doing this managed to retain constant tangible equity while growing the company. Not many companies can do this. When a company buys back shares they can't add it as an asset so it all goes back to the shareholders. This make it even more impressive what they've done. Many companies that pay out good dividends play the old ponzi scheme of issuing shares to pay back share holders. Comments?