TypeError: 'LazyConfigValue' object is not iterable

I am trying to install IPython on my MacBook with OS X 10.8.5.

I've tried using pip to install IPython with all its dependencies, and have encountered the appended error when trying to start IPython.

I've also tried a quarantined install in a virtualenv, and have found the same error so I know that its not a problem with conflicting versions.

Any thoughts/suggestions on how to fix this problem?
## Error:

Traceback (most recent call last):
File "/Users/frank/_notebook/bin/ipython", line 11, in
sys.exit(start_ipython())
File "/Users/frank/_notebook/lib/python2.7/site-packages/IPython/__init__.py", line 118, in start_ipython
return launch_new_instance(argv=argv, *_kwargs)
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/application.py", line 591, in launch_instance
app.initialize(argv)
File "", line 2, in initialize
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/application.py", line 75, in catch_config_error
return method(app, *args, *_kwargs)
File "/Users/frank/_notebook/lib/python2.7/site-packages/IPython/terminal/ipapp.py", line 305, in initialize
super(TerminalIPythonApp, self).initialize(argv)
File "", line 2, in initialize
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/application.py", line 75, in catch_config_error
return method(app, _args, *_kwargs)
File "/Users/frank/_notebook/lib/python2.7/site-packages/IPython/core/application.py", line 394, in initialize
self.load_config_file()
File "/Users/frank/_notebook/lib/python2.7/site-packages/IPython/core/application.py", line 258, in load_config_file
path=self.config_file_paths
File "", line 2, in load_config_file
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/application.py", line 75, in catch_config_error
return method(app, _args, *_kwargs)
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/application.py", line 564, in load_config_file
collisions = loaded[0].collisions(loaded[1])
File "/Users/frank/_notebook/lib/python2.7/site-packages/traitlets/config/loader.py", line 212, in collisions
for key in mine:
TypeError: 'LazyConfigValue' object is not iterable