UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of The
                         Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported) January 31, 2005


                          GABELLI ASSET MANAGEMENT INC.
             (Exact name of registrant as specified in its charter)

             New York                     1-14761                  13-4007862
         (State or other          (Commission File Number)       (IRS Employer
  jurisdiction of incorporation)                             Identification No.)

        One Corporate Center, Rye,                                   10580
                    NY
 (Address of principal executive offices)                          (Zip Code)

        Registrant's telephone number, including area code (914) 921-3700


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))



     Item 2.02. Results of Operations and Financial Condition.

     The following information is furnished pursuant to Item 2.02, "Results of
Operations and Financial Condition."

     On January 27, 2005, Gabelli Asset Management Inc. (the "Company") issued a
press release setting forth the Company's fourth-quarter and full year 2004
earnings. A copy of the Company's press release is attached hereto as Exhibit 99
and hereby incorporated by reference.

SIGNATURE
---------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                                   Gabelli Asset Management Inc.

                                    By:          /s/    Michael R. Anastasio Jr.
                                                  ------------------------------
                                                        Michael R. Anastasio Jr.
                                                         Chief Financial Officer


Date:    January 31, 2005
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