Quote Originally Posted by Cobra_1878 View Post
Missed this somehow - can you talk a little bit more about this please Spoon?
People just tend to think that EV and equity are the same thing and assume that having an equity advantage translates directly to an EV advantage when it doesn't.

For an example, suppose I'm 3-betting only for value (ie: a depolarized or "merged" range), and I have 60 percent equity against my opponent's calling range. If I play my range poorly, and he plays his range well, then it can be -EV for me overall.

There are lots of advantages that can be had in poker, but those advantages really only tell you who will come out on top if both sides play equally well. Position (like equity) is another good example of an advantage that can be squandered if you don't play sufficiently better than your opponent.