This verse is similar to Job 12.13, in which wisdom, might, counsel, and understanding are said to be with God. See also Isa 11.2. In our verse it is Wisdom who claims to possess these qualities.
“I have counsel and sound wisdom”: “Counsel”, which refers to advice, guidance, or planning, was first used in 1.25 and 30, where Wisdom’s guidance is only for individuals. However, this term is also used in 2 Sam 17.7 and 1 Kgs 1.12 in reference to political and military advice. It has this kind of political sense here. “Sound wisdom” refers to wise dealings in everyday, practical matters. A translation that brings out the sense of these terms says “I give good thinking to people and I help them to do good work.”
“I have insight . . . strength”: “Insight” (see 3.5) is the capacity to determine the true nature of things and usually has a sense close to that of “intelligence.” The word rendered “strength” normally is used of the political or military power of kings, as in 2 Kgs 18.20.
The text of the second line in Hebrew is strange, and because of this it is translated differently by the various versions. It is literally “I insight to me and strength.” “To me” is the same expression that begins the first line, which is usually rendered “I have” or “belongs to me.” The most common rendering, as found in Revised Standard Version and New Revised Standard Version, may be regarded as a translation of the Hebrew, as also Revised English Bible and Good News Translation. A Biblia Hebraica Stuttgartensia footnote suggests a variant Hebrew text, literally “to me insight to me strength,” which could be translated the same way. Hebrew Old Testament Text Project, however, which rates this line as “B,” makes two recommendations for its translation:
(1) “I am understanding/insight; to me belongs the power,” or
(2) “I, Understanding/Insight, possess the power.”
The rendering of New Jerusalem Bible “I am perception: power is mine” apparently understands the text in this way.
We may translate verse 14 by staying fairly close to the form of the text and saying, for example: “I give guidance and deal wisely. I have intelligence and power.” Or: “I plan ahead and understand things. I see the way things are and I am powerful.”
Quoted with permission from Reyburn, William D. and Fry, Euan McG. A Handbook on Proverbs. (UBS Helps for Translators). New York: UBS, 2000. For this and other handbooks for translators see here .

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