The argument is that if the fuse blows, your alternator will see the battery as empty, and will attempt to charge it. This will melt your remaining wire//catch it on fire and overwork/kill your alt.
If you do not have a fuse, and there is a short and the connection is maintained, the battery will explode and cover everything with intensely hot acid and release various deadly gasses. And your wire will eventually melt/catch fire and your alternator most likely die.
Of course, what are the chances that your alt//bat will short circuit? if it does, and your still driving, you'll probably notice a huge dim and your battery will be worked until it dies.
a fuse simply at the bat+ will save your battery in the case of a short, but the remaining wire to the alt will catch fire.
A fuse at the alt + will save your bat and prevent the wire from catching fire.
it is a misconception to always fuse at the battery.
you always fuse at the SOURCE. which is MOST often the battery.
But in the alt+ to bat+ connection, the source of power is the alternator.