We give tight bounds on the degree \ell homogenous parts f_\ell of a bounded function f on the cube. We show that if f: \{\pm 1\}^n \rightarrow [-1,1] has degree d, then \| f_\ell \|_\infty is bounded by d^\ell/\ell!, and \| \hat{f}_\ell \|_1 is bounded by $d^\ell e^{{\ell+1 \choose 2}} ... more >>>