NEW YORK ( TheStreet) -- Last week, Netflix (NFLX - Get Report) CEO Reed Hastings purchased $1 million worth of Facebook (FB - Get Report) stock. At right around the same time, I invested just over $2,000 in FB, upping my share total to a modest 103, a mere fraction of Hastings' 48,000-or-so buy.
It took me a few days to digest the development -- I moved with the big money, independent of the big money. Often, small investors act on what the big money does after the big money does it. Consider how, quarter after quarter, we relay news of the stocks hedge funds bought and sold. Readers can't get enough of it.
At first blush, I became concerned. I knee-jerked and thought of a bungling and bumbling Reed Hastings dressed in Keystone Cops getup running around the office showing off potential Qwikster logos. I thought about how $1 million means next to nothing to a mogul like Hastings.
Then, on Thursday, FB breached $20. To the short-sighted, Hastings, again, looks like a fool.Collect your thoughts. Realize that it's all relative. Hastings does not want to throw $1 million out the window anymore than I want to part with two grand. Plus, he's on the Facebook board. He probably wines and dines with Mark Zuckerberg. If nothing else, he's a visionary.