NEW YORK-While BlackBerries buzzed with news of Alan Greenspan's warning of a "possible recession" and the worldwide chain-reaction sell-off triggered by the dip in Chinese markets, a panel of mutual fund managers here last Tuesday pitched products to protect investors against an economic slump.

"Make no mistake about it. The U.S. economy is in a slow, grinding deceleration," said Hugh Moore, a partner with Guertie Advisors in Greenville, S.C.

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