The market may be on a roll, yet major risks abound, says Ben Hunt, Chief Risk Officer at Salient Partners, most notably the change in Chinese monetary policy which could soon pressure the entire global economy. Hunt is also wary of a major narrative shift in the United States as the Federal Reserve switches to tightening mode after years of easy money. Finally, Hunt says the risk of another "Flash Crash" remains high as long as high frequency traders dominate the market.

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