EXPERIENCE, n. The wisdom that enables us to recognize as an undesirable old acquaintance the folly that we have already embraced.
Ambrose Bierce (1842-1914?) American writer and journalist
“Experience,” The Cynic’s Word Book (1906)
(Source)
Included in The Devil's Dictionary (1911). Originally published in the "Devil's Dictionary" column in the San Francisco Wasp (1884-06-07).