I'm talking receive only, not transmit.
The operation is just as valid as it is for receive. As prcguy mentions, a braid folded back down over it's own covering is not ideal since the jacket doesn't make for a very good rf insulator (and also not the best conductor either, but that's what we'll use). This is the main problem and why an air-gap is the preferred method, even though you can get a folded-braid dipole resonant with trimming. Thing is, it isn't super efficient, albeit better than just a quarter wave whip.
Because of the very poor rf insulation, there is a lot of coupling taking place even on rx-only to the rest of the braid's common-mode. That's why for rx-only applications, I try to "tune" the common mode of the braid with chokes, so it will act like a real quarter-wave element as far as rf is concerned without having to fold back any braid or expose it to the elements.
So for a general purpose antenna that is even quicker to make than a ground-plane, I just stick a quarter wave piece of wire onto a chassis connector and hope that the common-mode of the braid is good enough.
If I have chokes available, I'll tune the braid by placing snap-on chokes that can go up to VHF at least a quarter wave down. All bets are off at UHF though since the chokes aren't effective above 300mhz.
I'll pass on the folded-braid technique, as I find it unnecessary since I have chokes available. AND I don't have to worry about exposing my transmission line to the elements (aside from a light covering of sealant at the connector. Still, I consider these temporary or attic at best and even wrap the chokes with tape.
I hope I'm not misreading your question - it's pointed to the folded-braid vertical dipole for rx-only, but maybe I'm wrong.