The accepted answer is wonderful, however, for the sake of simplification, I would like to do my best to describe it, in a different way. Hope can help some people.
When you encounter a linearization problem, the first step is to draw the hierarchy tree of the classes and traits. For this specific example, the hierarchy tree would be something like this:

The second step is to write down all the linearization of the traits and classes that interferes the target problem. You will need them all in the one before the last step. For this, you need to write just the path to reach the root. The Linearization of traits are as following:
L(A) = A
L(C) = C -> B -> A
L(B) = B -> A
L(D) = D -> A
The third step is to write the linearization of the problem. In this specific problem, we are planning to solve the linearization of
var d = new A with D with C with B;
Important note is that there is a rule by which it resolves method invocation by first using right-first, depth-first search. In another word, you should start writing the Linearization from most right side. It is as follow:
L(B)>>L(C)>>L(D)>>L(A)
Fourth step is the most simple step. Just substitute each linearization from second step to third step. After substitution, you will have something like this:
B -> A -> C -> B -> A -> D -> A -> A
Last but not least, you should now remove all duplicated classes from left to right. The bold chars should be removed:
B -> A -> C -> B -> A -> D -> A -> A
You see, you have the result: C -> B -> D -> A
Therefore the answer is CBDA.
I know it is not individually deep conceptual description, but can help as an complementary for the conceptual description I guess.
And this part explains by relying on formula:
Lin(new A with D with C with B) = {A, Lin(B), Lin(C), Lin(D)}
Lin(new A with D with C with B) = {A, Lin(B), Lin(C), {D, Lin(A)}}
Lin(new A with D with C with B) = {A, Lin(B), Lin(C), {D, A}}
Lin(new A with D with C with B) = {A, Lin(B), {C, Lin(B)}, {D, A}}
Lin(new A with D with C with B) = {A, Lin(B), {C, {B, Lin(A)}}, {D, A}}
Lin(new A with D with C with B) = {A, Lin(B), {C, {B, A}}, {D, A}}
Lin(new A with D with C with B) = {A, {B, A}, {C, {B, A}}, {D, A}}
Lin(new A with D with C with B) = {C,B,D,A}