The story begins with the narrator’s friend, Larry Aloysius O’Leary, making a philosophical statement: a man can succeed at anything, provided he avoids women. He supports this with the example of Orloff Zaranoff, a Russian scientific researcher and diamond trader. According to O’Leary, Zaranoff was devilishly handsome and notorious for his dealings with women, which ultimately led to his downfall. Had Zaranoff not been distracted by women, O'Leary suggests, he would have been a millionaire.

Intrigued, the narrator asks O'Leary to elaborate. O'Leary begins to recount how, in his own life, he had been a millionaire twice. The first time was when he won big at the races in Tijuana and broke the bank at Monte Carlo. However, the story focuses on the second instance, which involved Zaranoff.

Zaranoff, O’Leary explains, possessed a map that purportedly led to a massive treasure of diamonds hidden in the Himalayas, in Tibet. The diamonds were of such immense value that they would make the famous Kimberly mines pale in comparison. O'Leary, though vague on how Zaranoff acquired the map, hints at the significant danger and adventure associated with the quest for this treasure.

The narrative, unfortunately, cuts off before O’Leary can fully detail the events that followed, leaving the reader with an unfinished but intriguing glimpse into a potential adventure involving treasure hunting in remote and dangerous lands.