A financial executive, Evan Danielson can't stop his career downspiral. However, it turns out that his young daughter, with the help of her magical blanket and her imaginary friends, is capable of predicting which stocks are good investments. Meanwhile, his scheming co-worker Johnny Whitefeather tries to figure out Evan's secret to his newly found success.
Olivia (Yara Shahidi) is a girl who we think has divorced parents and spends most time living with her mother (Nicole Ari Parker), rarely with her father. Her father, Evan (Eddie Murphy) is a workaholic father and doesn't know anything about her daughter, ignoring her, and telling her to stop talking to her "magic" blanket so called "Goo-Gaa". Evan works at a company that he has been at for 8 and a half years and has a competitor, Johnny Whitefeather (Thomas Haden Church). On a day Evan has a conference, he has to bring Olivia since he cannot leave her alone at home. While Evan is just warming up, he cannot find his work papers for the conference. He soon finds out that Olivia drew pictures and cut patterns on his work papers and gets angry. Johnny steals the spotlight so Evan gets even angrier and makes up stories about the other companies relating to what Olivia did to the papers. Evan coincidentally said everything about the story true. And gets a raise. He asks Olivia how she knew everything and said she asked Goo-Gaa.