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Is R portable?

Recently I came across an interesting web site: 
http://portableapps.com/.  The idea is simple, this is software that 
is possible to install and run on some type of USB memory, a stick or 
one of these hard disks.  I can think of a number of situations where 
this could be handy.  In addition memory sticks are getting cheaper 
and more powerful by the day.

So:  Is it possible to run R off one of these sticks?

I am also informed that it is possible to run Latex in this manner.

Tom