This is one of the beautiful thing you can learn from math course. In financial calculus class, the first half class is devoted to binomial tree model. In that model, you rebalance your portfolio in the near future (Delta t_i) based on the information you know during Delta t. But in continuous model, Delta t becomes delta, future collapses to present. You need to do rebalance all the time. If not, you will be arbitraged by others.
If you don't want others to arbitrage you, you'd better to know future is present and try you best continuously.
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