Lambda Functions - Limit of Iterations

xThomasM 

There are some answers on

Lambda Example: Generate Fibonacci series - Microsoft Tech Community

which in turn references

https://www.sumproduct.com/news/article/lambda-formulaic-recursion-its-all-about-me

Basically it is to do with the limit of 1024 arguments on the stack.  Since each recursion generates a new set of arguments, this builds rapidly.

The basic calculation is

= QUOTIENT( 1024, N)

I think nesting the recursive Lambdas provides the product of the recursions available from each level but the number of arguments is the sum of those at the two levels.

My practice of using LET to break the calculation into understandable steps may well be counterproductive in terms of adding to the argument count.