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News
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You're absolutely right. I'd just like to add on:
Wise people learn from the mistakes of others. They observe and take note of chains of events, and use that knowledge in order to guide their own decisions in the future.
Wise people question what they believe. If they feel cognitive dissonance, they don't ignore it; they examine their ideas and consider the prospect that they may be wrong. They can change their minds based on new evidence.
Wise people are skeptical. When they learn about a situation, they don't take immediate sides based on knee-jerk emotions. Rather, they examine all available information and come around to their own ideas in their own time.
Using all of the above points are what guide wise people towards "cautiously correct" decisions. They are more likely "correct" because they base their ideas on a greater pool of information, and are capable of discarding ideas even if the ideas "feel good" to believe in. They remain "cautious," because no matter how sure they believe they are, they are well aware that there's a chance they could still be mistaken.