His fold was correct in his situation:
- they were playing limited number of
hands (like 200 or something)
- he got 100,000$ to start
- he could keep only what he had over those 100k at the end (but if he losses, he would just leave with no profit but also no loss)
- plus he was amaterou player, it was big money for him
- he managed to double shortly after start. Then he just folded all the hands till the end.
About AA situation:
- it was pot-limit preflop. So no all-in preflop.
- it would be quite obvious he has KK/AA, so the pros at table would outplay him, especially with 3-4 ppl on the flop. He would have minimum edge on flop, or no edge at all.
- for him it was just better to keep that 100k win.
Also keep in mind, that 200k dont have double value of 100k for most people. The second 100k would have much less impact on real life for most of us.