It ain't over till (or until) the fat lady sings is a colloquialism. It means that one should not presume to know the outcome of an event which is still in progress. More specifically, the phrase is used when a situation is (or appears to be) nearing its conclusion. It cautions against assuming that the current state of an event is irreversible and clearly determines how or when the event will end. The phrase is most commonly used in association with organized competitions, particularly sports.
The phrase is generally understood to be referencing the stereotypically overweight sopranos of the opera. The imagery of Richard Wagner's opera cycle Der Ring des Nibelungen and its last part,Götterdämmerung, is typically the one used in depictions accompanying reference to the phrase. The "fat lady" is the valkyrie Brünnhilde, who is traditionally presented as a very buxom lady withhorned helmet, spear and round shield (although Brünnhilde in fact wears a winged helmet). Her aria lasts almost twenty minutes and leads directly to the end of the opera. AsGötterdämmerung is about the end of the world (or at least the world of the Norse gods), in a very significant way "it is [all] over when the fat lady sings."
Despite his obvious allegiance to the Red Raiders, Texas Tech sports information director Ralph Carpenter was the picture of professional objectivity when the Aggies rallied for a 72–72 tie late in the SWC tournament finals. "Hey, Ralph," said Bill Morgan, "this... is going to be a tight one after all." "Right", said Ralph, "the opera ain’t over until the fat lady sings."
"Bill vividly remembers the comment and the uproar it caused throughout the press box. He always assumed it was coined on the spot. 'Oh, yeah, it was vintage Carpenter. He was one of the world’s funniest guys,' said Bill, a contender for that title himself."
One big-name investor is predicting an even sharper drop.
"There is no evidence whatsoever to suggest we have bottomed. You could have $15 or $20 oil -- easily," influential money manager David Kotok told CNNMoney.
A further decline to $15 a barrel would be huge. Oil hasn't traded that low since early 1999, when gasoline at the pump was selling for under $1 a gallon.
Kotok's views on the economy and financial markets are closely watched. The 72-year-old co-founder of Cumberland Advisors manages more than $2 billion in assets and hosts an annual invite-only fishing trip that doubles as an economic summit. Known as "Camp Kotok," the event lures leaders in finance to Maine each summer.
"I'm an old goat. I remember when oil was $3 a barrel," said Kotok, whose clients include former New Jersey Governor Thomas Kean.
HOUSTON, Aug. 19 (UPI) -- Approval for oil swaps with Mexico opens the spigot for U.S. crude oil, but might not be the export indication supporters hope for, an industry analyst said.
The U.S. Commerce Department last week granted a request from Mexican energy company Petroleos Mexicanos, known also as Pemex, to swap as much as 100,000 barrels of U.S. crude oil per day for Mexican refining. The deal forbids the re-export to other nations.
Prices for Gem Diamonds Ltd.’s stones that are larger than 10 carats have fallen about 3 percent in the first half of this year, Chief Executive Officer Clifford Elphick said by phone on Wednesday. That compares with declines of about 30 percent for smaller gems.
“The big stones seem to be holding up their value,” Elphick said.