Definition: Extravagance, also known as excess or overvaluation, is a financial concept in which an investor believes that the value of a stock or other investment has exceeded its intrinsic value. This can occur when there are significant changes in market conditions and economic indicators, causing the stock price to rise significantly above its historical or long-term average. Extravagance can be advantageous for investors if it leads to higher returns on their investments due to the perceived increase in market value. However, it
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