Small stack situation - topic from TPFAP

I was involved in a discussion today with a friend who had 2 different situations calling all-in bets either with a small stack or versus a small stack holding a pocket pair and losing while in a position where the FT cut was very close. I am currently reading TPFAP and just finished reading the section where Sklansky disucsses passing up some of those situations when just out of the money, even with hands like QQ (p. 78). In our discussion he stated that he didn't necessarily agree with that statement. He went on to state that it was in conflict to most of the discussion that he has seen here.

I just wanted to post this for general discussion as I'm now a little confused by this topic and wondering if that is truly where the consensus lies. I also want to avoid the pitfalls of beleiving everything that I read (however I've not been let down by any of Sklansky's advice to date).


The quote I posted to him was:

[ QUOTE ]
Assuming that we are talking about stacks that are so small that losing one hand will deplete it completely, you should stay away from all close gambles, and maybe even some not so close gambles, (e.g. calling an early raiser with QQ in hold em), if it looks like that will significantly increase your chances of getting into the money.

This situation occurs when there are some stacks smaller than yours. It also occurs when you have the smallest stack...

[/ QUOTE ]

Does anyone care to elaborate in support of or against this statement?