The act of doing fraternity. Commonly used by non-fratters, the word is used to generally describe the various actions and events that fraternities take part in.
"Hey Paul, would you like to hang out on sunday?"
"Sorry Cindy, can't. I'll be fraternitizing"
"Dammit, Paul, you always do that"
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2million.