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1.
When someone celebrates a windfall or personal accomplishment prematurely and it ends up failing or blowing up in their face. Similar to Premature Ejaculation.
Man 1: "Did you hear about Rick? He had to return that new Mercedes he bought after the Newark deal he thought he closed fell through"

Man 2: "Geez, he should know better about premature congratulation."
by LEBRON IN DA HOUSE June 08, 2009