Alternative investments are generally regarded as asset classes that diverge from standard financial securities (stocks/bonds). So, for this discussion, consider and discuss the value/usefulness (or not) of 'other' asset classes...examples might be REIT's (Real Estate Investment Trusts), Hedge Funds; Private Equity.

Feel free to add other/more esoteric investments, just support your inclusion with a graduate school level of pro's/con's, please add a source for your findings and make it 250-300 words