Powerful Glory had been well beaten in his two previous races this season, although had won on both starts last year, including the Group Two Mill Reef Stakes.
“I am not saying I thought he would come here and nearly win, but I knew he would do his best and, when I saw 200-1, I nearly had a bet and I don’t bet,” said Fahey.
“We have seen the real Powerful Glory today – and he has only had four starts.”
Powerful Glory, owned by Sheikh Rashid Dalmook Al Maktoum, earned nearly £320,000 on a day which boasts overall prize money of £4.35m.
Earlier, Trawlerman beat stablemate Sweet William in a Long Distance Cup one-two for the Gosdens.
Kalpana, ridden by Colin Keane, defended her Fillies and Mares Stakes title for trainer Andrew Balding.
Meanwhile, Oisin Murphy was crowned champion jockey for a fifth time after a turbulent year.
Murphy was fined £70,000 and given a 20-month driving ban for drink-driving after crashing a car into a tree in April.
The jockey, who has well-documented alcohol issues, apologised for what happened.
“I certainly had a point to prove that I was able to do my job with things going on externally, and that’s what motivated me and fuelled me to the championship title,” he said.
“Like anyone with an addiction, you have to work very hard at it. And, unfortunately for me, I relapsed and I’ve had to pay the price for it since.”
