[whangarei]

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In cash games as well as tournaments, you often have to fold when you would be happy to call all-in, when the fact that your opponents can bet on later streets hurts you. Calling doesn't buy the right to go to showdown. It buys the right to face more bets on later streets.

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This gets to the heart of my question, but maybe I'm being stubborn because I just don't buy your point. Why isn't each street judged independently?

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This is a fundamental misconception about poker. I've explained why. If you aren't willing to believe me, or the many good poker books which say the same thing, then you should do some calculations that you believe.

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Well I'm not just willing to believe many things, but you could certainly convince me if you provide justification for your argument. So say we call on 4th and we have to call following the same betting on 5th. The bet size is now 40K so we would need at least a 16% chance (40/245) of winning to call on 5th. Doesn't seem too unlikely. I would like to hear a well-thought out justification for why potential action on later streets makes an "all in type call" unwise, especially in limit poker where future betting is, uh, limited.