Against the backdrop of Nixon's election to office, Beverly Hills hairdresser and notorious rake George Roundy (Warren Beatty) runs into trouble when his lascivious habits begin to clash with his more responsible business ambitions. Things get even more complex when Roundy asks his wealthy mistress, Felicia Karpf (Lee Grant), for a business loan, unaware that his best friend and ex-girlfriend, Jackie (Julie Christie), is sleeping with Karpf's husband, Lester (Jack Warden).