Greece’s debt crisis isn’t a major threat to “good times” in markets around the world, Jefferies Group Chief Executive Officer Richard Handler said.
“While we hate to see people in pain in any country, to us the situation does not appear as systemically dangerous as it was just a few years ago,” Handler, who’s also CEO of Jefferies’s parent company Leucadia National Corp., said Wednesday in a letter to clients.
Stock markets are at or near all-time highs, interest rates are close to zero and unemployment is down, wrote Handler and Leucadia President Brian Friedman, who cautioned against overexuberance and overpaying in deals.
“There will be another period of extremely painful, scary and expensive volatility,” they said. “Nobody knows when it will happen. It could be tomorrow or a decade away.”