A term used by analysts and investors to describe a share which is trading above what they perceive to be its real value. Obviously, this is a value judgement and each analyst and investor will have a different opinion. An expensive share is not necessarily a high-priced share - thus a share trading for R10 can be considerably more "expensive" than another trading for R100. The value of the share is determined by its ability to generate consistently rising dividends over time.
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