Two stocks with equal expected returns, variances 0.10 and 0.40, and correlation 0.5: the reflex differentiates the portfolio variance and reports an interior weight. The minimum sits at 100% in the calmer stock, and the usual explanation for that, which blames the no-shorting rule, is wrong. The vertex of the variance parabola lands exactly on w = 1, so the constraint does no work at all and the answer survives dropping it.
The anchor is 45 squared, the shortfall is 1500, and one division by 900 lands on 1355/3 = 451.6667 against a true 451.66359. The estimate overshoots by exactly h squared over four a squared, which is 25/9 in the square here, so the error has a known sign as well as a known size. The article carries the bracket that names 452 as the nearest integer, one Newton step to nine figures, and what happens when the anchor is chosen too far away.
Draw X and Y uniformly from the unit interval and their product beats a half with probability (1 - ln 2)/2, about 15.3 percent. The reflex answer of a quarter counts a condition that is genuinely necessary and treats it as sufficient, which is why 0.8 times 0.6 sits inside the quarter square and still loses. The hyperbola y = 1/(2x) cuts the winners down to a sliver, and one integral measures it.