Freddie Threepwood and his uncle are in difficulties. Freddie wants a thousand pounds to start a bookmakerÕs business and to marry Eve, while his uncle wants to raise three thousand pounds, unbeknown to his wife, to help a runaway daughter. Freddie persuades his uncle to steal his wifeÕs necklace and sees PsmithÕs advertisement in a daily paper. Freddie enlists the services of Psmith to steal the necklace. There are plots and counterplots. This is the fourth book in the "PSmith" series, following on from "Mike and PSmith", "PSmith in the City" and "PSmith, Journalist".