I know "No, thank you" means rejection.
Me: Hey, Bob. You want some drink?
Bob: No, thank you.
But I was involved with this kind of conversation
Me: Thanks, Mr Jordan for teaching me.
Mr.Jordan: No! Thank you!
Did he reject my thanks? Does this mean that it's something like No Problem, or is he trying to say that I'm the one who should thank you!. Or has he had enough of me? He has taught me for 5 years, so we have a good relationship (I hope).
Best Answer
He is saying that you don't owe him thanks, he owes you thanks. He clearly regards you as the sort of student who makes teaching rewarding. He may even imply that he has learned from you, from the sorts of questions you have asked which made him think about things which he took for granted.