Heading into the New Year and pondering the oft- disappointing New Year’s resolution, I’ve been thinking about what the investment world —managers, consultants and institutional investors — could resolve to do differently to avoid these wild swings of the world economic pendulum and the subsequent suffering that accompanies the painful correction of our collective mistakes.

As I considered this, I was reminded of how the only times I could hear the proverbial pin drop in an otherwise strongly opinionated group of intellects was at conferences and forums this year when these masters of world finance were asked the simple question: “What can we do differently next time to keep this from happening again?” It seems as though change can be a particularly challenging feat.

In the recently published book Immunity to Change, authors Robert Kegan and Lisa Lahey, professors at the Harvard Graduate School of Education and experts on developmental change, provide