Looking back since Oct 1988 through Sept 2009, the buffer would have saved you only 6.6% on average, not 10%.

FORBES: Structured Notes Buyers Be Warned

They understand that only the paranoid survive, so they had a very large cash balance and buffer to ride through the storm and come back even stronger.

FORBES: Hedge Fund Returns With Mutual Fund Fees! How One Global Equity Master Does It