5 Elements of WisdomTrue personal wisdom involves five elements, said Professor Staudinger, a professor at Columbia University.
They are self-insight; the ability to demonstrate personal growth; self-awareness in terms of your historical era and your family history; understanding that priorities and values, including your own, are not absolute; and an awareness of life’s ambiguities.
Wisdom involves recognizing the negative both within and outside ourselves and trying to learn from it, she said.
Simplifying one’s life is also a sign of wisdom, Dr. Clayton said, for example, by giving your things away while you are still alive.
Some people have trouble with the idea of settling for less — “they’ve gotten so used to the game of acquiring more,” she said.
http://www.nytimes.com/2014/03/13/busin ... .html?_r=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"