Sunday, July 4, 2010

A Fifth On The Fourth

UBS Floor Director at the NYSE, Art Cashin is highly colourful, quotable and authentic.  As I have previously mentioned, he is usually interviewed just before or just after the market opens at 9:30 Eastern on CNBC's "Squawk Box".  Well, the other day Art let slip that he would be celebrating the 4th of July with "a fifth".  I've always wondered why a 26 oz. bottle of booze was called "a fifth" - and I'm sure you have too.  It's because 26 imperial fluid ounces is approximately 25 U.S. fluid ounces which is approximately 1/5 of a U.S. gallon.  There you go, happy 4th of July!  (Apropos to the occasion, we are happy to welcome GoneSouth - a truly unique Americanadian - as a guest author to Out Here Too.  Watch for her posts in coming weeks.)