The third movie in a series, Pepe el Toro tells the story of a young man (Pedro Infante) who, if it weren't for bad luck, would have no luck at all. In the second film, his wife and twins died in a bus accident, and now Pepe is trying to resurrect his life and livelihood as a carpenter. Just when he thinks that his business will be successful, it is closed by the authorities - for taxes that he doesn't owe.
To escape this Kafkaesque nightmare, Pepe becomes a boxer, and in the world championship semifinals, he fights a friend. Needless to say, things go badly, but in classic dramatic form, there is some small redemption at the end.