Investors should start adjusting their playbook to get ready for a looming Federal Reserve interest rate cut, billionaire hedge fund magnate Paul Tudor Jones said Wednesday.

The recommended strategy will entail a bet on falling rates and rising gold, as well as against the U.S. dollar and "at some point" stocks "at least initially," the Tudor Investment founder told Bloomberg News before an event sponsored by his nonprofit JUST Capital.

"I didn't think we'd have a first cut in 2019," Jones said. "I don't think we would have had that had we not gotten into this tariff battle, and so it has accelerated everything."

Indeed, markets are betting that the Fed enacts multiple rate cuts this year, with the first one likely in July, another in September and possibly a third as soon as December, according to futures pricing tracked by CME. That comes after a 2018 that saw the central bank hike its benchmark interest rate four times to a target range of 2.25%-2.5%.