Pender Podcast - World Cup Series - The Tournament Problem: Luck, Skill & Process

When perceived advantages don't always equate to results. In the third episode of Pender's World Cup Series, Senior Equity Analyst Felix Narhi joins host Laura Baker to explore why being the favourite can become a liability and what underdog teams like Cabo Verde and Team Canada reveal about the structural advantages of playing with freedom, finding mispriced bets, and building a culture that outlasts any strategy.