Excerpt from ThinkAdvisor.com article featuring Horizon Investments’ Greg Valliere

While Raymond James Chief Investment Strategist Jeffrey Saut offered some prescient advice Monday by telling investors – and the media – to “sit back and take a deep breath” on news that the UK voted to exit the European Union, other market pundits are bracing for a potentially bigger market shock as France makes noises about leaving the bloc.

Indeed, Greg Valliere, chief investment strategist for Horizon Investments, sees “two major risks” going forward: First, that France schedules a vote to opt out of the EU, which would be the ultimate train wreck scenario; Second, that global economic growth slumps largely because of a pervasive drop in confidence — businesses are curbing investment because of uncertainty, and consumer confidence is likely to slump further in light of stock market volatility that may persist for some time.

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