Long Term Investments (Tables)

12 Months Ended

Dec. 31, 2015

Long-term investments consist of the following:



	December 31, 2015		December 31, 2014
Investments accounted at cost	$	41,231	$	32,239
Investments accounted under the equity method	21,495		20,484
	$	62,726	$	52,723

Schedule of cost method investments

Long-term investments consist of the following investments accounted for at cost:



	December 31, 2015				December 31, 2014
	Carrying Value		Fair Value		Carrying Value		Fair Value
Investment partnerships	$	40,730	$	44,217	$	31,541	$	38,039
Real estate partnership	501		552		698		1,108
	$	41,231	$	44,769	$	32,239	$	39,147

Schedule of Equity Method Investments [Line Items]

Schedule of equity method investments

Long-term investments consist of the following investments accounted for under the equity method:



	December 31, 2015		December 31, 2014
Indian Creek Investors LP	$	4,989	$	8,053
Boyar Value Fund	7,302		—
Ladenburg Thalmann Financial Services Inc.	9,204		12,173
Castle Brands, Inc.	—		258
	$	21,495	$	20,484

Castle Brands [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of equity method investments

Pursuant to Rule 4-08(g) is the following summarized financial data for Castle. The Company has elected a three-month lag reporting period for Castle.



	September 30, 2015		September 30, 2014
Current assets	$	36,922	$	31,121
Non-current assets	9,845		9,834
Total assets	$	46,767	$	40,955

Current liabilities	$	9,947	$	8,703
Non-current liabilities	13,696		12,028
Total liabilities	23,643		20,731
Total controlling shareholders' equity	19,978		17,490
Non-controlling interest	3,146		2,734
Total shareholders' equity	23,124		20,224
Total liabilities and shareholders' equity	$	46,767	$	40,955



	Twelve Months Ended September 30,
	2015			2014			2013
Revenues	$	67,143		$	51,426		$	43,484
Expenses	(41,317		)	(32,495		)	(28,117		)
Gross profit	25,826			18,931			15,367
Other expenses	(25,920		)	(20,399		)	(19,176		)
Loss from continuing operations	(94		)	(1,468		)	(3,809		)
Net loss	$	(2,946	)	$	(4,845	)	$	(8,604	)

Indian Creek and Boyar Value Fund [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of equity method investments

Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for Indian Creek and Boyar Value Fund.



	December 31, 2015		December 31, 2014
Investment securities	$	40,676	$	71,331
Cash and cash equivalents	101		309
Other assets	8,664		32
Total assets	$	49,441	$	71,672

Other liabilities	$	408	$	6,571
Total liabilities	408		6,571
Partners' capital	49,033		65,101
Total liabilities and partners' capital	$	49,441	$	71,672



	Year Ended December 31,
	2015			2014			2013
Investment income	$	565		$	3,314		$	565
Expenses	(868		)	(1,298		)	(839		)
Net investment (loss) income	(303		)	2,016			(274		)
Total net realized (loss) gain and net change in unrealized depreciation from investments	(14,809		)	(168		)	16,496
Net (decrease) increase in partners' capital resulting from operations	$	(15,112	)	$	1,848		$	16,222

Ladenburg Thalmann Financial Services [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of equity method investments

Pursuant to Rule 4-08(g) is the following summarized financial data for LTS. The Company has elected a three-month lag reporting period for LTS.



	September 30, 2015			September 30, 2014
Cash and cash equivalents	$	114,548		$	94,952
Receivables from clearing brokers, note receivable and other receivable, net	115,334			123,947
Goodwill and intangible assets, net	269,774			211,862
Other assets	63,634			62,571
Total assets	$	563,290		$	493,332

Accrued compensation, commissions and fees payable	$	72,936		$	61,205
Accounts payable and accrued liabilities	24,615			22,328
Notes payable, net of $1,655 and $951 unamortized discount in 2015 and 2014, respectively	59,184			62,131
Other liabilities	21,487			32,802
Total liabilities	178,222			178,466
Preferred stock	1			1
Common stock	19			18
Additional paid-in capital	517,988			452,263
Accumulated deficit	(132,952		)	(137,406		)
Total controlling shareholders' equity	385,056			314,876
Non-controlling interest	12			(10		)
Total shareholders' equity	385,068			314,866
Total liabilities and shareholders' equity	$	563,290		$	493,332

(1) The table above presents the nature and amounts of the major components of assets and liabilities, along with information regarding redeemable stock and non-controlling interest.



	Twelve Months Ended September 30,
	2015			2014			2013
Revenues	$	1,122,735		$	867,756		$	753,840
Expenses	(1,132,010		)	(856,072		)	(756,988		)
Gross (loss) profit	(9,275		)	11,684			(3,148		)
Change in fair value of contingent consideration	31			12			(121		)
(Loss) income from continuing operations	(9,244		)	11,696			(3,269		)
Net income (loss)	$	4,396		$	22,482		$	(5,389	)