Where is my alert.log ?

I used DBCA to create my new database. What was my surprise when I type "cd $ORACLE_BASE/admin//bdump". Where is my alert log ? Hmmmmm.
Quick check of background_dump_dest parameter show all. There is a new default location of
all trace files. I've started looking some information in Oracle docs, and I found that in 11g Oracle introduce a new diagnostic system ADR (Automatic Diagnostic Repository). I'm just starting to read documentation of it to find out how it is working.