Abstract: This article examines the main approaches towards the understanding of wisdom. The first approach consists in identifying wisdom as a knowledge about your ignorance (Socrates’ “The only true wisdom is in knowing you know nothing”). The author analyzes the key formulation of this approach:  theory of intellectual humility and theory of epistemic accuracy. Practical approach consists in determining wisdom as the knowledge of how to live properly, and realization of this knowledge in practice. Hybrid concept is the theory of profound rationality, because it includes the instance of knowledge and instance of moral life. The theory of universal wisdom views wisdom as a holistic concept, which combines theoretical and practical. The methodology contains conceptual analysis, method of ascension from abstract to concrete, comparison, and synthesis. It is demonstrated that against all of these theories, there is always an objection that, perhaps a number of criteria that must be met by a sage, is not exhaustive or is excessive. As an alternative, the author suggests the disjunctive definition of wisdom that perceives wisdom as a mild disjunction of the theoretical and practical wisdom.