• Services
    • Valuation Services
    • Investment Banking
    • Frequently Asked Questions
  • Our Team
  • Insights
    • Newsletters
    • Relevant Court Cases
    • Relevant Business Valuation Articles
    • Published Articles
    • Related Links
  • Contact
    • E-Mail
    • Map
  • Home


“The Market Capitalization Illusion,”
by J.B. Heaton
dated December 17, 2022


This paper states that market capitalization normally is more than market value (due to illiquidity) and, thus, investors are less wealthy than they believe.  

Note: Full-text of this paper can be obtained by clicking on the above title.


1065 Executive Parkway, Suite 205
St. Louis, MO 63141
Ph. 314.434.3800
Fax 314.434.3809
2023 Capital Advisors, Inc.  All Rights Reserved.
"St. Louis Arch"; "Capital Advisors, Inc."; "Building"; "Conference Room"; "St. Louis Sky"; "Crane";