dbt debug cannot find a profile when in a subdirectory

[clrcrl]

dbt debug cannot find a profile when in a subdirectory

Steps to reproduce

1. Confirm that you can run dbt debug in a dbt project

$ pwd
/Users/claire/fishtown/internal-analytics

$ dbt debug
Running with dbt=0.15.1
dbt version: 0.15.1
python version: 3.7.5
python path: /Users/claire/.pyenv/versions/3.7.5/envs/dbt0.15.1/bin/python
os info: Darwin-19.2.0-x86_64-i386-64bit
Using profiles.yml file at /Users/claire/.dbt/profiles.yml

Configuration:
  profiles.yml file [OK found and valid]
  dbt_project.yml file [OK found and valid]
  profile: garage-snowflake [OK found]
  target: dev [OK found]

Required dependencies:
 - git [OK found]

Connection:
  account: kw27752
  user: claire
  database: ANALYTICS
  schema: DBT_CLAIRE
  warehouse: TRANSFORMING
  role: TRANSFORMER
  client_session_keep_alive: False
  Connection test: OK connection ok

2. cd into a subdirectory

$ cd models/

3. Run dbt debug (on v0.15.2)

Expected results

All good, I'm in a subdirectory but it should be able to find my profile.

Actual results v0.15.2

Error message

$ dbt debug
Running with dbt=0.15.1
dbt version: 0.15.1
python version: 3.7.5
python path: /Users/claire/.pyenv/versions/3.7.5/envs/dbt0.15.1/bin/python
os info: Darwin-19.2.0-x86_64-i386-64bit
Using profiles.yml file at /Users/claire/.dbt/profiles.yml

Configuration:
  profiles.yml file [ERROR invalid]
  dbt_project.yml file [ERROR not found]

Required dependencies:
 - git [OK found]

A `dbt_project.yml` file was not found in this directory.
dbt found the following profiles:
 - jaffle_shop
 - integration_tests
 - audit_helper_integration_tests
 - playbook


To debug one of these profiles, run:
dbt debug --profile [profile-name]

Actual results dev/barbara-gittings

Encounters an error but has no error message

 $ pyenv activate dbt-dev
(dbt-dev) $ dbt --version
installed version: 0.15.2-a1
   latest version: 0.15.1

Your version of dbt is ahead of the latest release!

(dbt-dev) $ dbt debug
Running with dbt=0.15.2-a1
dbt version: 0.15.2-a1
python version: 3.7.5
python path: /Users/claire/.pyenv/versions/3.7.5/envs/dbt-dev/bin/python
os info: Darwin-19.2.0-x86_64-i386-64bit
Using profiles.yml file at /Users/claire/.dbt/profiles.yml

Encountered an error: