In a medium bowl, stir together the pecans, raisins, walnuts, cherries, condensed milk and vanilla wafers. Dough will be very thick, you will need to use your hands.
Form dough into a ring shape on top of a dinner plate. Wrap in many layers of plastic wrap and/or aluminum foil. Allow to age in the refrigerator for at least a week. The flavors will have a chance to blend and all of the milk will be absorbed into the cake.
