CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net (loss) income	$ (671,000)	$ 10,443,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	4,471,000	6,311,000
Gain on sale of real estate	(1,710,000)	(3,290,000)
Net unrealized loss (gain) on marketable securities	1,816,000	(2,628,000)
Unrealized (loss) gain on other investments and derivative instruments	436,000	(11,565,000)
Impairment loss on other investments	917,000	976,000
Gain on insurance recovery	0	(322,000)
Stock compensation expense	329,000	350,000
Changes in assets and liabilities:
Investment in marketable securities	8,641,000	(9,098,000)
Other assets	(732,000)	(133,000)
Accounts payable and other liabilities	7,000	874,000
Due to securities broker	(7,725,000)	7,219,000
Obligations for securities sold	57,000	(1,024,000)
Deferred taxes	(613,000)	4,852,000
Net cash provided by operating activities	5,223,000	2,965,000
Cash flows from investing activities:
Proceeds from sale of real estate	4,111,000	5,291,000
Investment in hotel	(2,818,000)	(1,787,000)
Investment in real estate	(293,000)	(5,218,000)
Proceeds from (investment) in other investments	271,000	(45,000)
Investment in Santa Fe	(471,000)	(210,000)
Investment in Portsmouth	(145,000)	0
Change in restricted cash	171,000	(507,000)
Net cash provided by (used in) investing activities	826,000	(2,476,000)
Cash flows from financing activities:
Distributions to noncontrolling interest	(500,000)	0
Borrowings from mortgage notes payable	2,095,000	13,654,000
Principal payments on mortgage notes payable	(4,736,000)	(12,320,000)
Payments on other notes payable	(714,000)	(902,000)
Purchase of treasury stock	(1,458,000)	(735,000)
Proceeds from exercise of options	0	38,000
Net cash used in financing activities	(5,313,000)	(265,000)
Net increase in cash and cash equivalents	736,000	224,000
Cash and cash equivalents at the beginning of the year	1,364,000	1,140,000
Cash and cash equivalents at the end of the year	2,100,000	1,364,000
Supplemental information:
Income tax paid	159,000	116,000
Interest paid	$ 6,830,000	$ 7,037,000