Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net income (loss)	$ (11,785)	$ (1,824)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity-based compensation	158	172
Accretion of income on other investments, at fair value	(78)	(106)
Realized loss (gain) on other investments, at fair value	(40)	(419)
(Income) / loss from equity method affiliates	107	8
Change in unrealized (gain) loss on other investments, at fair value	2,735	171
Depreciation and amortization	80	81
Impairment of goodwill	7,883
Amortization of discount on debt	166	122
Deferred tax provision (benefit)	(396)	(114)
Change in operating assets and liabilities, net:
(Increase) decrease in other receivables	29,618	3,894
(Increase) decrease in investments-trading	(67,893)	15,762
(Increase) decrease in other assets	5,645	258
(Increase) decrease in receivables under resale agreement	1,485,564	3,121,841
Change in receivables from / payables to related parties, net	55	168
Increase (decrease) in accrued compensation	4,314	(3,310)
Increase (decrease) in accounts payable and other liabilities	61,079	233
Increase (decrease) in trading securities sold, not yet purchased	36,820	(21,877)
Change in receivables from/ payables to brokers, dealers, and clearing agencies	(21,491)	(13,279)
Increase (decrease) in securities sold under agreements to repurchase	(1,468,071)	(3,111,051)
Net cash provided by (used in) operating activities	64,470	(9,270)
Investing activities
Purchase of investments-other investments, at fair value	(119)	(408)
Sales and returns of principal-other investments, at fair value	2,309	5,091
Investment in equity method affiliate	(2,097)	(3,775)
Return from equity method affiliates
Purchase of furniture, equipment, and leasehold improvements	(63)	(20)
Net cash provided by (used in) investing activities	30	888
Financing activities
Proceeds from draws on revolving credit facility	17,500
Proceeds from non-convertible debt	4,500
Repayment of debt	(9,163)
Proceeds from redeemable financial instruments		1,268
Cash used to net share settle equity awards	(54)	(128)
Purchase and retirement of Common Stock		(65)
Proceeds from non-controlling interest investment		2,550
Cohen & Company Inc. dividends	(62)	(61)
Net cash provided by (used in) financing activities	12,721	3,564
Effect of exchange rate on cash	(71)	(5)
Net increase (decrease) in cash and cash equivalents	77,150	(4,823)
Cash and cash equivalents, beginning of period	8,304	14,106
Cash and cash equivalents, end of period	$ 85,454	$ 9,283