Re: Is it absolutely correct..
Here's a situation that may "prove" it is correct to sometimes cold-call and not 3-bet in position.
HJ raises, you have some hand that probably has 50% equity against his range when you consider all factors (position, initiative, etc.). Maybe something like 77/88. SB and BB are both the nittiest guys in the world and will only play QQ/KK/AA in this spot in which case they will 3-bet. Everything else they fold. I think a cold-call makes the most sense here. No need to raise to kick out the blinds, if they are in the hand they will re-raise. And since you're 50/50 equity against HJ's hand, no need to raise again.
And since you're getting an overlay with the dead money, you can play your 50/50 hand. Maybe you can even call with a slight dog.
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