1) Just a misprint - it should be "малкият". No, it's not allowed, except maybe in verses. Nevertheless, it's a pretty formal restriction and applies only to the writing.
2) "... рисковете, които поема.." - "да поема риск" means "to take/incure a risk". "Заблуден" has several meanings, but in this particular case it means "lost"/"misguided"
3) "разминава се на косъм от/с (нещо)" is an idiom meaning "To almost get, achieve, or experience something." - pretty close analog of the english "come within a whisker of (something)".