Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income / (loss)	$ 72,111	$ 38,453	$ (3,573)
Adjustments to reconcile net income / (loss) to net cash provided by (used in) operating activities:
Equity-based compensation	15,718	12,553	744
Accretion of income on other investments, at fair value	0	(124)	(424)
Loss / (gain) on other investments, at fair value	(35,421)	(43,413)	(1,080)
Loss / (gain) on other investments, sold not yet purchased	(830)	(1,063)	0
(Income) / loss from equity method affiliates	(36,010)	2,955	553
Depreciation and amortization	371	334	318
Impairment of goodwill	0	7,883	0
Amortization of discount on debt	860	736	548
Deferred tax provision / (benefit)	(2,071)	(8,877)	(678)
Other non-operating income - forgiveness of debt	(2,127)	0	0
Change in operating assets and liabilities, net:
Change in receivables from/ payables to brokers, dealers, and clearing agencies	(11,257)	(41,368)	73,343
Change in receivables from / payables to related parties, net	(3,872)	(2,346)	327
(Increase) decrease in other receivables	726	42,696	(34,535)
(Increase) decrease in investments-trading	19,096	64,891	(6,617)
(Increase) decrease in receivables under resale agreement	2,540,698	1,783,659	132,228
(Increase) decrease in other assets	(4,858)	4,340	(3,768)
Increase (decrease) in accounts payable and other liabilities	(19,307)	24,552	7,855
Increase (decrease) in accrued compensation	8,218	10,313	(1,208)
Increase (decrease) in trading securities sold, not yet purchased	18,073	(33,508)	(42,175)
Increase (decrease) in securities sold under agreement to repurchase	(2,541,797)	(1,821,231)	(137,321)
Net cash provided by (used in) operating activities	18,321	41,435	(15,463)
Investing activities
Purchase of investments - other investments, at fair value	(123,098)	(62,282)	(1,927)
Purchase of investments - other investments sold, not yet purchased, at fair value	(59,098)	(12,519)	0
Sales and returns of principal - other investments, at fair value	112,013	54,748	10,114
Sales and returns of principal - other investments sold, not yet purchased, at fair value	56,820	20,997	0
Investments in equity method affiliates	(8,143)	(12,675)	(4,352)
Purchase of furniture, equipment, and leasehold improvements	(1,028)	(217)	(101)
Net cash provided by (used in) investing activities	(22,534)	(11,948)	3,734
Financing activities
Proceeds from draws on revolving credit facility	17,500	17,500	4,777
Repayment of draws on revolving credit facility	(17,500)	(17,500)	0
Proceeds from PPP loan	0	2,166	0
Proceeds from non-convertible debt	0	4,500	0
Repayment of debt	(2,400)	(9,163)
Payments for debt issuance costs	0	(24)	0
Proceeds from redeemable financial instrument	0	0	1,268
Repayment of redeemable financial instrument	(4,000)	(4,921)	(1,500)
Cash used to net share settle equity awards	(378)	(54)	(128)
Proceeds from issuance of Common Stock	9,076	0	0
Purchase and retirement of Common Stock	(857)	(2,142)	(299)
Proceeds from other non-controlling interest investment	17,095	13,489	2,550
Other non-controlling interest distributions	(2,734)	0	0
Operating LLC non-controlling interest distributions	(1,970)	(35)	(213)
Cohen & Company Inc. dividends	(671)	(27)	(519)
Net cash provided by (used in) financing activities	13,161	3,789	5,936
Effect of exchange rate on cash	(377)	416	(9)
Net increase (decrease) in cash and cash equivalents	8,571	33,692	(5,802)
Cash and cash equivalents, beginning of period	41,996	8,304	14,106
Cash and cash equivalents, end of period	$ 50,567	$ 41,996	$ 8,304