"Something different is happening now." So began chief economist Jerry Webman's comments Wednesday night at the annual OppenheimerFunds media event at the stylish Le Parker Meridien Hotel in midtown Manhattan. Webman and 20 of the fund firm's portfolio managers and senior execs talked to over 30 reporters about opportunities to look for in a "deleveraged world."

Webman and other OppFunds execs warned that we're in a "vicious cycle" now, but that doesn't mean investors should abandon hope.

"Stocks are very, very cheap," opined global team leader George Evans.

Attendees flocked in from CNBC, DC News, InvestmentNews and others gathered and enjoyed drinks and delicious samosas. And access to the MassMutual subsidiary's decision makers was plentiful for those who came. 

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