There have been a considerable number of papers proposing composite models for leptons and quarks. Recently, Glück and Lipkin have stated that reproducing the observed magnetic moments of these fermions presents a serious difficulty for these composite models. We show for a renormalizable theory that, in contrast to Glück's and Lipkin's nonrelativistic arguments, a deeply bound system (with heavy constituent particle masses mc) of (total) spin 1/2, charge e and mass m has the magnetic moment (e/2m) [1 + “usual” (QED + QCD + weak) corrections +O (m/mc) “new” bindng corrections]. Although there remains the considerable dynamical problem of obtaining “light” bound fermions from heavy constituents, there is no separate, additional magnetic moment difficulty. © 1980, All rights reserved.