CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net (loss) income	$ (1,928,000)	$ 10,622,000
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	2,214,000	3,497,000
Net unrealized loss (gain) on marketable securities	3,006,000	(3,837,000)
Unrealized loss (gain) on other investments and derivative instruments	417,000	(11,863,000)
Impairment loss on other investments	632,000	540,000
Stock compensation expense	186,000	147,000
Changes in assets and liabilities:
Investment in marketable securities	6,655,000	(10,297,000)
Other assets	(856,000)	(247,000)
Accounts payable and other liabilities	108,000	(630,000)
Due to securities broker	(4,459,000)	8,256,000
Obligations for securities sold	(257,000)	(1,698,000)
Deferred taxes	(1,558,000)	5,031,000
Net cash provided by (used in) operating activities	4,160,000	(479,000)
Cash flows from investing activities:
Investment in hotel	(1,737,000)	(1,008,000)
Investment in real estate	(194,000)	(755,000)
Proceeds from other investments	275,000	103,000
Investment in Santa Fe	(471,000)	0
Investment in Portsmouth	(15,000)	0
Restricted cash	136,000	(414,000)
Net cash used in investing activities	(2,006,000)	(2,074,000)
Cash flows from financing activities:
Distribution to noncontrolling interest	(500,000)	0
Borrowings from mortgage notes payable	2,095,000	3,838,000
Principal payments on mortgage notes payable	(2,074,000)	(1,117,000)
Net borrowings (payments on) other notes payable	34,000	(95,000)
Purchase of treasury stock	(149,000)	0
Net cash (used in) provided by financing activities	(594,000)	2,626,000
Net increase in cash and cash equivalents	1,560,000	73,000
Cash and cash equivalents at the beginning of the period	1,364,000	1,140,000
Cash and cash equivalents at the end of the period	2,924,000	1,213,000
Supplemental information:
Interest paid	$ 3,444,000	$ 3,464,000