2/4 Limit O8 hand.

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First of all, I wouldn't be in there chasing to get quartered, which is my point for questioning the pre-flop call in a raised pot.

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What are you talking about? Preflop, on the button, facing a cutoff open raise, with two flush draws (one to the nut flush), a second nut low draw and three broadway cards -- how are you "chasing to get quartered"?? It just doesn't make sense. In your world you would never play A2xx because you are just chasing being quartered... preflop he has high options and low options. His hand has significant scoop potential with strong backup potential for at least half the pot.

His reraise was an attempt to isolate CO with position. That is a smart move if there is any chance that CO is raising light. Many blinds will call a single raise with marginal hands in 2/4 LO8 -- It is better to try and eliminate the blinds.

I think you might want to reread some of those poker books...