Crispin Odey is poised to become this year's top performing hedge fund manager in Europe – a remarkable turnaround after being the worst performer two years ago.
His flagship Odey European Fund currently tops the leaderboard of a list of Europe's best performing hedge funds compiled by HSBC.
It says Odey's fund, which made millions of pounds from correctly betting against banks in the run-up to the financial crisis, is up 25.7 per cent so far in 2018.
The strong performance marks a strong comeback by Odey, who last year saw his fund slide by more than a fifth and tumble almost 50 per cent in 2016 after his predictions of a market crash failed to materialise.
Odey, who has a large investment in Sky, said: 'We have done very well out of stock picking this year, especially with oil shares, such as Aker BP.' But he added: 'After a torrid couple of years, I need to keep on doing this for several years.'
Odey was one of the City's leading Brexiteers, donating large sums of money to campaigns backing Britain's separation from the European Union.
However, he said last night that Brexit appears to be 'hopelessly, badly organised'.