[ QUOTE ]
He only made about $200 on this hand so in terms of EV, you could say he actually lost money.

[/ QUOTE ]

Indeed, we must on average extract $240+ when we hit.
But that doesn't mean that in each individual case we hit we must make $240+.

I guess my point is that the EV of calling the raise preflop shouldn't be viewed in the vacuum of this hand.