Wisdom is a deep understanding and realizing
of people, things, events or situations, resulting
in the ability to choose or act to consistently
produce the optimum results with a minimum
of time and energy.
Wisdom is the ability to optimally
(effectively and efficiently) apply
perceptions and knowledge and so
produce the desired results.
Wisdom is comprehension of what
is true or right coupled with optimum judgment as to action
Synonyms include: sagacity, discernment, or insight.
Wisdom often requires control of one's emotional
reactions (the "passions") so that one's principles,
reason and knowledge prevail to determine one's actions
This is what the Wikipedia explains of wisdom...