Applied wisdom means keeping the number of times you shoot yourself in your foot to a minimum and surviving every single attempt at self-mutilation. It also involves knowledge of life, knowledge of yourself, acknowledgment of uncertainty, open-mindedness, tolerance, coolness, naivete-aversion, discernment, instinct, the ability to see the big picture, diligence, prudence, intellectual thoroughness, courage, tenacity, experience, down-to-earth-ness, reflection, happiness, prosperity, and a sense of humor. Applied wisdom can be earned or learned, but not taught.

Applied wisdom is also the avoidance of folly, unwisdom, faux sophistication, dogma, stupidity, ignorance, arrogance, hubris, and includes doubt, skepticism, and a healthy baloney-detection approach.