s 2015: The Year in Money
2015 ear in Money Y The
By Jeremy Scott Diamond, Laurie Meisler, Jennifer Prince, Chloe Whiteaker
December 21, 2015

Huge mega-mergers. Anemic hedge fund returns.
Billion-dollar venture capital deals.
2015 was a year of record highs and lows.

All data as of December 15, 2015

Stock Market

Apple hit a record $775 billion market cap Apple $641B JAN. 2, 2015 $616B DEC. 15, 2015 Alphabet Microsoft Berkshire Hathaway
+143% performer in the S&P 500 was the best Netflix

Bond Market

2015 2013 2011 2009 2007 2005 Sales of investment-grade reached $1.31 trillion for the first time corporate bonds
2015 2014 2013 2012 2011 2010 2009 2008 The junk bond market posted its first loss since 2008 –5%

Deals

36K 30K 30K 24K 36K 26K 20K 2015 2013 2011 2009 2007 2005 2003 Announced M&A deals topped $4 trillion
$1.6T 56 14 16 12 35 26 8 2015 2013 2011 2009 2007 2005 2003 There were more ($10B+) than ever before mega-mergers
$120.5B SABMiller Anheuser- Busch InBev $79.3B Royal Dutch Shell BG Group biggest M&A deal of the year $183.7B Allergan Pfizer is buying for in the
Carlyle Group 33 WPP 26 Blackstone announced more acquisitions than anyone else
2015 2013 2011 2009 2007 2005 2003 $14B $29B was the The value of U.S. IPOs lowest since 2009
2015 2013 2011 2009 2007 2005 2003 Announced equity offerings $1 trillion, a record exceeded

Venture Capital

2015 2013 2011 2009 2007 2005 2003 jumped 39% to an all-time high Venture-capital investments $109.7B
Venture-capital firms made a record six billion-dollar deals $3B Xiaoju Kuaizhi $1.6B Uber $1.5B Airbnb $1B SpaceX $1B Coupang $1B SocialFinance

Jobs

2009 2015 855K Global 268K U.S. than in any year since 2009 were announced job cuts More
for more than half of announced U.S. layoffs Five companies accounted Hewlett- Packard 85K 20K Schlumberger 14K Baker Hughes 10K Microsoft 9K Chevron 131K Everyone else

Ups & Downs

Catalyst Macro Strategy ProFunds Internet UltraSector ProFund 46% 30% mutual funds two U.S.-based had returns over 25% of $100M or more Only
Equity health care Long short equities Equity technology Emerging market debt Long-biased equity BBG Global Event driven Hedge funds are up less than this year 1% +16% –18%
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Venezuela Germany 14 Credit-default swap spreads Venezuela’s sovereign bond debt is the riskiest in the world... ...while Germany’s remains the closest thing to risk-free 4,424 basis points
Jeff Bezos Amancio Ortega Mark Zuckerberg Warren Buffett Jim Walton Carlos Slim +$29B +$13B +$11B –$10B –$11B –$19B Some billionaires got much richer... ...and some didn’t

Methodology

All data are as of December 15. The totals for mergers and acquisitions and venture capital are based on announced value, with non-U.S. dollar values converted to U.S. dollars at the time of announcement. Mergers and acquisitions data include asset sales. Withdrawn and terminated deals are excluded. Bloomberg counts acquisitions as all transactions involving public or private companies where at least 5% of the equity of a target company is acquired. All acquisitions made by a fund are credited to the parent of that fund. For example, in the chart showing the companies that announced the most acquisitions in 2015, purchases of buildings and real-estate assets made by CBRE Global Investors were counted as acquisitions for CBRE.

Total equity offerings include both initial and additional offerings. IPO data are aggregated by effective year and exclude closed-end and country funds, REITs, special-purpose entities, and specified-purpose acquisition companies.

Wealth is based on the Bloomberg Billionaires Index, which monitors the world's highest-net-worth individuals and how their fortunes change on a daily basis. Data for hedge funds' strategies are based on Bloomberg's active indices for funds; overall performance comes from Bloomberg's market-capitalization weighted index of hedge funds domiciled globally.