JEFFERIES CEO: Here's My New Rule For Dealing With Volatile Markets

"We are never as brilliant as we think we are when all is going swimmingly well, and we are never as dumb as we feel when everything goes wrong pretty much all at once and we just cannot seem to catch a break," Handler wrote in an email he sent out to Jefferies employees late last week.

During October, the financial markets have been absolutely wild. We have heard chatter about hedge fund managers sharing stories of having an uncharacteristically tough time navigating the market.

Trading this month's volatility has been challenging, but Handler sees it as a "much needed reality check."

Here's Handler's letter: