If his offer had been fully priced, he might have pre-empted competition.

"We think we've made a bid that is quite fully priced," he said.

This is an example of a quality business where the negatives are fully priced into the stock.

"Most of the downside is already fully priced into the stocks."

"We thought the stock was fully priced when it got to over 20 times 1993 estimated earnings."

"I don't think they have fully priced it in yet."

He believes that oil equities as a group are "relatively fully priced."

"We continue to believe our offer is fully priced and compelling," he said.

We do not think this is fully priced in.

"The market got to a level where it was fully priced," he said.