"If past history was all there was to the game, the richest people would be librarians"

This quote by Warren Buffett is a pointer that knowledge is power. It recommends that if the only thing that mattered in life was understanding of the past, then the most effective people would be curators. This is because curators have access to a wealth of details and understanding that can be used to make informed decisions. Buffett is suggesting that understanding of the past is necessary, however it is not the only element that figures out success. He is suggesting that in order to succeed, one need to also have the capability to think critically and make choices based on the present and future. This quote is a tip that understanding is very important, however it is not the only element that determines success.