Running a full install of Ubuntu on USB stick

[lemonade]

Was wondering if it is possible to have a full proper install of Ubuntu like you would normally install on a hard drive, but instead on a usb stick with the ability to plug out and plug in as you like. I know persistent mode can do this to a certain extent, but wondering if it's possible to just have a proper install on a usb stick?
Cheers

 

[lemonade]

Sounds like it isn't fully functional then, and I would imagine there would be issues with the bootloaders.