wrote...
=VLOOKUP(MAX($A:$A),$A:$A,1)

If this worked as you're assuming it does, it'd return the same result
as MAX($A:$A). If you want the largest value in col A, just use the
MAX call.

This function is meant to provide the value displayed in the lower-
most/last active cell in column A. *It is provided as a solution to
someone who has a list of figures in a spreadsheet, the last cell of
which is the most up to date figure available and needs to be
displayed elsewhere on the sheet, especially if the last active cell
is constantly changing.

If you want to display the bottommost number value in col A, try

=LOOKUP(9.99999999999999E+307,A:A)

However, I thought MAX( ) would display the largest figure in the
column - not the figure in the largest row number occupied. *But the
function does actually work - it displays whatever is in the final row
occupied of column A; even if the last row is the smallest figure in
the column!

MAX does return the largest number value in its arguments. It's your
VLOOKUP call above that's flawed. Since you omit the optional 4th
argument, VLOOKUP *expects* that col A is sorted in ascending order.
If col A isn't sorted, VLOOKUP will usually return *INCORRECT*
results. Try

=VLOOKUP(MAX($A:$A),$A:$A,1,0)

but, again, it's unnecessary since it would return the same result as
=MAX($A:$A).