Bought in today , because I thought it was undervalued .Don't...

Bought in today , because I thought it was undervalued .Don't know if the 3.89 NTA is still current , but also thought it would be a bit higher than this due to the just completed buyback of 50 million $ of stock .Note the payout ratio was only 30 per cent , was the profit 1700 million , looks very high .Are they going to retain all that , or maybe pay off some debt & reduce the gearing in an evironment where there is an expectation of an up-tick in interest rates .i'm a bit rusty on my MIG analysis , is there anyone out there whos up to speed & got a perspective on the current overall financial situation .