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But the scale of the disaster may not yet have been fully discounted.
"By the time the Fed officially raises rates, the market will have fully discounted it," he says.
In a buy note, Cormac Leech of Liberum Capital said: The implied stock overhang is already fully discounted in our view.
"On the other hand, the collapse of a leave win, something the market has almost fully discounted, could be truly biblical".
Shaqiri has started work on removing some of those question marks, but they can only be fully discounted by more big performances on the big stage.
The financial markets have still not fully discounted the pain to come, and neither have the rosy economic forecasts that assume the economic slowdown will be a brief one.
Similar(34)
As always, I heard rumor upon rumor, hard to fully believe, hard to fully discount.
So I wouldn't fully discount the importance of right-wing bullying.
"We remain concerned that the stock does not fully discount the financing risks associated with building a 4G network, and that subscriber forecasts remain overly optimistic given deterioration in overall postpaid market trends," he wrote in a report.
The depressed state of India's stock market, which is now fully discounting the country's problems, is good news for investors.
Then he concludes by iterating that sometimes science cannot explain everything, and that he personally will not fully discount the supernatural.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com