单选题

The mosaic theory is the idea that an analyst can（）。

A、 make investment recommendations on the basis of several pieces of nonpublic information as long as the aggregate information remains nonmaterial.
B、 base his recommendations on nonpublic material information only for the clients of the company, but not for the general public.
C、 make recommendations or trade based on several pieces of public or nonpublic information, each piece by itself being nonmaterial, but when compiled the information becomes material.

【正确答案】 C

【答案解析】

The mosaic theory permits an analyst to make recommendations based upon several pieces of public or nonmaterial information, even though the complied result is both material and nonpublic.