Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net income (loss)	$ (22,541)	$ (28,083)
Non-cash items included in net income (loss):
Depreciation and amortization	2,056	2,336
Net investment (gains) losses	502	(75)
Restricted stock units recognized, net	20,833	21,674
Deferred taxes, net	8,026	1,353
Non-cash portion of loss on refinancing	0	1,759
Loss on fair value of contingent obligation	0	575
Allowance for doubtful accounts	(32)	0
Changes in operating assets and liabilities:
Fees receivable	32,361	18,533
Other receivables and assets	(18,958)	(18,926)
Payment of contingent obligation due selling unitholders of Cogent	0	(5,724)
Compensation payable	(5,198)	(30,105)
Accounts payable and accrued expenses	2,444	3,200
Current income taxes payable	(1,398)	(5,809)
Net cash provided by (used for) operating activities	18,095	(39,292)
Investing activities:
Purchases of investments	(2,050)	0
Proceeds from sales of investments	847	0
Distributions from investments	27	0
Purchases of property and equipment	(2,240)	(743)
Net cash used in investing activities	(3,416)	(743)
Financing activities:
Proceeds from refinancing of secured term loan, net	0	48,248
Repayment of secured term loan	(15,625)	(8,750)
Payment of contingent obligation due selling unitholders of Cogent	0	(13,144)
Dividends paid	(2,162)	(3,076)
Purchase of treasury stock	(22,622)	(29,780)
Net cash used in financing activities	(40,409)	(6,502)
Effect of exchange rate changes	(3,695)	(117)
Net decrease in cash and cash equivalents	(29,425)	(46,654)
Cash and cash equivalents, beginning of the period	113,975	156,374
Cash and cash equivalents, end of the period	84,550	109,720
Supplemental disclosure of cash flow information:
Cash paid for interest	8,102	11,229
Cash paid for taxes, net of refunds	$ 4,843	$ 5,410