[Lexander]

I have been thinking over the AA question, and the more I consider it the more I am convinced that AA should have constant Pos EV. That is why my problems with the hand continue to baffle me. This hand is only a problem in Low Limit tables against a lot of players. They tend to call the 1st raise but only those with hands likely or actually beating mine tend to stay in past the flop. The result is that 6-7BB average, which includes a lot of times when everybody folds and I win the blinds. In practice, I lose a lot with this hand but overall about 40% of the time it probably wins (but that includes a lot of small pots that skewer the average).

What truly baffles me is that it is my favorite hand in SnG's, particulary NL ones. Suddenly the hand has few problems, and tends to win my largest and most valuable pots.

I appreciate your comments on the fact that EV must be recalculated at each step. This is not something I usually have a problem with. If the flop is AT7, I usually figure my pair of 5's probably isn't going to be worth that much. Particularly at the tables I play at where people play Ax anything and you will commonly be facing a higher pair or possibly even two pair.

- Lex