Implys the opposite. The individual refered to is not crazy at all, rather cunning (like a fox). Used when one appears to be 'crazy', but is acting with a hidden motive, in a cunning way
Spawning from a Simpsons episode where Homer cooks up a scheme to smuggle booze into Springfield during prohibition.
Literally means to do something bad/unskillfull on purpose for reasons that arnt obvious.
See crazy like a fox
Bart: Man Homer, you suck! {At bowling}
Homer: Yeah, suck like a fox!
"Like a Fox" is used after an action that one has just achieved as a discriptive phrase. When you have done something, adding "Like a Fox!" at the end will emphisize the slyness, talent or precision you or someone else has achieved something. "Like a Fox" can also be said; "Like Fox!". Like a Fox is traced back as far as an ancient phanton comic, where the Phantom states; "Crazy like a fox"
"I tricked you Like a Fox!"
"I am smart Likke Fox!"
"Stupid like a fox!" -Homer
Homer refers to being "Stupid like a fox" which is a play on the term "Crazy like a fox", a phase coined in 1944 by humourist S.J. Perelman as the title of a book.
Crazy like a fox means an act that appears foolish but is actully shrewd and cunning. An example of this would be turning down a seemingly good deal, knowing that they will counter with a better one.