中文的没有，给你个英文的吧，这个看着比较清晰

Mosaic theory in finance is the method used in security analysis to gather information about a corporation. Mosaic theory involves collecting information from different sources, public and private, to calculate the value of security. Applying the mosaic theory is as much art as it is science. An analyst gleans as many pieces of information as possible, see if they tell a story that makes sense, and decide whether to do a trade.

Using mosaic theory requires substantial experience and logic to put together the various pieces of information, for some of them may be pure speculation.

个人觉得，在CFA中，它主要是针对material non-public这条规定来的，只要是这material non-public info. 不是直接获得，而是通过各种小道消息、公众消息或者加点个人推测得到的结论，那么就可以避免违反code.

英文解释来自于http://en.wikipedia.org/wiki/Mosaic_theory