Buffett Offers Words of Wisdom as Berkshire Reports Growth

Warren Buffett predicts most Berkshire subsidiaries will have lower profits this year due to economic challenges but anticipates gains in insurance.
Buffett praised government intervention in bank failures and said losses would've caused catastrophic runs without it.
Munger and Buffett warn value investors returns may decrease but still see opportunities in disruptive times.
Berkshire's Q1 operating profit increased 12.6% to $8.07 billion driven by insurance gains and equity growth.
Buffett advised living by your obituary, spending less than you earn and continuous learning at Berkshire's annual meeting.