CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities
Net income	$ 19,892	$ 27,261
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	313	146
Stock based compensation expense	577	187
Deferred income taxes	4,015	(1,409)
Foreign currency translation loss	20	89
Cost basis of donated securities	1,691	0
Unrealized on available for sale securities	920	0
Net gains on sales of available for sale securities	6	0
(Increase) decrease in assets:
Investments in trading securities	2,686	5,384
Receivable from affiliates	(239)	935
Receivable from brokers	(106)	(298)
Investment advisory fees receivable	2,619	11,562
Income tax receivable and deferred tax assets	(660)	2,738
Other assets	(623)	490
Increase (decrease) in liabilities:
Payable to affiliates	(1,041)	9
Payable to brokers	366	(282)
Income taxes payable and deferred tax liabilities	1,664	5,772
Compensation payable	(1,267)	1,424
Accrued expenses and other liabilities	(1,393)	(988)
Total adjustments	9,548	25,759
Net cash provided by operating activities	29,440	53,020
Investing activities
Purchases of available for sale securities	(3,393)	0
Proceeds from sales of available for sale securities	252	0
Return of capital on available for sale securities	5	0
Net cash used in investing activities	(3,136)	0
Financing activities
Dividends paid	(571)	(578)
Purchase of treasury stock	(2,547)	(3,309)
Amortization of debt issuance costs	6	6
Net cash used in financing activities	(3,112)	(43,360)
Effect of exchange rates on cash and cash equivalents	(5)	(98)
Net increase in cash and cash equivalents	23,187	9,562
Cash and cash equivalents at beginning of period	41,202	17,821
Cash and cash equivalents at end of period	64,389	27,383
Supplemental disclosures of cash flow information:
Cash paid for interest	279	384
Cash paid for taxes	764	960
AC 4% PIK Note [Member]
Financing activities
Repayment of debt	0	(10,000)
AC 1.6% Note [Member]
Financing activities
Repayment of debt	0	(15,000)
Margin Loan [Member]
Financing activities
Issuance of debt	0	5,000
Repayment of debt	$ 0	$ (19,479)