Not to be confused with alternative facts, a lot of alternative investments are unconventional, highly complex assets that most of us in the general population are unlikely to ever experience.
Traditionally, alternative investments such as hedge funds, managed futures, and derivative contracts are left to the trust fund babies who don't need to work to earn a living, self-made millionaires, and large institutional investors. Not that we're bitter about it...
The appeal is that alternative assets tend to do their own thing. So, when the market freaks out, and your traditional assets freak out too, you'll be happy these alternative assets are not joining in.