You're Not Warren Buffett, So Don't Invest Like Him

Tickers in this article: JRN MEG LEE

If you follow the media coverage of Buffett's small-town newspaper activity, however, all you hear about is the investment thesis. Every headline and every lead deals with Buffett's belief that small-town newspapers have a future. It's a feel-good story. It's likely to prompt investors, particularly those in awe of Buffett, to jump into a stock like LEE or maybe something similar like Journal Communications (JRN) .

While it probably makes more sense to not proceed at all, if you do, move forward with caution. You're not Warren Buffett. You cannot walk into a company, buy a few millions shares and then turn the screws by scooping up warrants or handing out a multi-million dollar high-interest loan.

At the time of publication, the author held no positions in any of the stocks mentioned in this article .