Key insights
- Senator McCormick's trades in Goldman Sachs stock, selling near highs before the Iran war and buying back lower, raise questions of potential insider knowledge. While legal due to public disclosure, the timing ahead of GS earnings introduces uncertainty. A positive earnings surprise could validate the buyback strategy, while a miss might suggest the geopolitical risk was miscalculated. This could influence short-term sentiment in the financial sector.
Senator Dave McCormick sits on the Senate Banking Committee. His wife, Dina Powell McCormick, spent 16 years in senior leadership at Goldman. He ran the largest hedge fund in the world, Bridgewater.
He sold between $1-5M of Goldman Sachs at $949 on January 22, 2026. Near all-time highs.
Goldman fell 15% after the Iran war started.
And McCormick started buying it back.
Six buybacks totaling $600K-$1.5M bought back at an average ~$878, after selling at $949.
- Feb 22: $100-250K at ~$917 * Feb 23: $100-250K * Feb 24: $100-250K at ~$897 * Mar 2: $100-250K at ~$861 * Mar 3: $100-250K at ~$862 * Mar 9: $100-250K at ~$832
Goldman Sachs is now at $907.80.
GS reports earnings tomorrow (April 13).
All trades were publicly disclosed via Senate financial filings.