 Bilateral shift operator

The bilateral shift $(Tx{)}_n=x_{n+1}$ is unitary. It has empty point spectrum, while its approximate point spectrum is the unit circle. For $|\lambda |=1$, normalized vectors with entries ${\lambda }^n$ on an interval of length $N$ fail to satisfy $Tx=\lambda x$ only at the two endpoints, giving residual norm $\sqrt{2/N}$.