Prize-winning cameraman Gustavo Biazzi makes his feature debut with a bittersweet coming of age story. During the Argentine summer, Ernesto, who studies in Buenos Aires, and his girlfriend, Paula, return to their birthplace of Posadas in the province of Misiones. Ernesto links up with his old friends – the 'vagabonds' from the title – and with them he reverts to his old pattern: drinking, parties, barbecues, hanging out on the beach and seducing pretty girls.
Despite his long-term relationship, Ernesto also has a fleeting romance with a blonde. Only when he is in danger of losing Paula, through his constant flirting with other women, does he see the consequences of his immature behaviour. In a calm tempo, with meticulous camerawork, the film subtly evokes a mood of nostalgia for a carefree adolescence from which Ernesto and his friends have difficulty taking their leave.