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He also warned that the EU is “asking for trouble” by trying to act as one voice. In a note to clients seen by Investment Week, Mr Ruffer warned the "world feels more dangerous, and very much more uncertain" now due to a rise in geopolitical tensions. Mr Ruffer seems unconcerned about the effects of Brexit on the UK economy. He said: "The shocking thing is that the Brexit deal does not, in the long run, matter very much.

"Yes, crashing out may cost us five years' growth, but unless you are a citizen of the world, and in charge, that is not a key thing, at least in economic terms." He explained: "It worked in the subjugation of Greece, it may or may not work in the outcome with Britain, with Spain, with Germany, with the next but one centre of crisis. "It looks clear that some things are almost bound to happen. The first is the political collapse of a united Europe." German Chancellor Angela Merkle and France's Emanuel Macron are pushing for a more integrated Europe.

GETTY Further European unity will end badly

In terms of investments, although portfolios “returned little” last year, he is hoping for better figures in 2018. Of further investments, Mr Ruffer urged caution with technological companies such as Amazon, Facebook and Uber. Although they are “changing the way business is done”, they can be risky investments because of a possibility of governments fighting back. Mr Ruffer’s comments come after it was revealed David Cameron doesn’t think Brexit has turned out as badly as he first feared after losing the EU referendum. The former Conservative Party Prime Minister warned that Brexit could seriously damage Britain’s economy in the lead up to the EU referendum. After losing the EU referendum, Mr Cameron stepped down as Prime Minister.

GETTY Mr Ruffer warned against investing in companies like Amazon