"It is completely circular to use market value," he says.
"It does seem a little circular to me," he said.
And his logic can seem like circular — to the point of fallacious — reasoning.
Last week Alliance Trust published a detailed rejection of Elliott's points in a circular to shareholders.
It was an email circular to friends about 'cool arts and technology events' in the area.
The Treasury, which signed off on the circular to shareholders, declined to comment.
The army issued a circular to troops promising to provide "robust support" for this endeavour.
On Monday mornings, they would loiter in the store, waiting for the new circular to hit the stands.
A circular to potential investors in 2008 suggested that within five years its balance sheet will have grown to £4.1bn.
Just yesterday, she had sent out an e-mail circular to friends from Homs, writing, "It's a nightmare here".
The sori are circular to elliptic in outline and occur along the edges of the leaf segments.
