The more things change, the more they stay the same. Amid the growing geopolitical powder keg of 2014, the deafening roar of BIS-deniers proclaiming that everything bad is priced-in and nothing good is priced-in dominates the mainstream media. This is nothing new... as no less than The Financial Times proclaims on June 30th 1914 that "stock markets have been scarcely affected by the assassination of the heir to the Austrian throne... there's no evidence that stock holders took fright" as it's priced in (or contained?). It seems things didn't quite work out as 'priced-in'.
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h/t @FT
Things were not quite as priced in as 'they' thought...
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