I really think it's Walter Mashburn. He has the money and power to be Red John. He has a dynamic personality and is likeable. Red John has many friends and none of the other suspects seem to have it in them to draw people to them. I can't see Red John being one of the boring characters that always wears gray. I see him wearing red and having an interesting personality.
One last point: it is going to look very unrealistic is Red John does not have money and power from a legitmate source.
From the latest episode its clear that Alexa Schultz is Red Johns FBI accomplice.
Was the man sitting opposite her, Red John? What do you guys think?
if RJ is not PJ then the most logical choice would be Bet Stiles. He has the ability, resources and opportunity.
Saw online an interesting theory...someone suggested that Jane's brother in law, Danny, is Red John. After listening to their voices, they sound very similar. Do I find this likely? Not really. Possible? Yes. After seeing season 5 episode 5, I don't think it is Danny. We clearly see the FBI agent who is working with Red John, then we see a man in the car, assumed to BE Red John. We don't know this for a fact, but his voice was also similar. We only heard him speak two words though. What do you all think?
It's Warner Vanderhoke, Chief of Security for Visualize. James Morrison's role seemed too tangential and inconsequential for such a fine actor. He must surely make a reappearance.
I think RJ is Bret Stiles, he can read minds like PJ does and he knows quite a lot about every RJ case.
Not only is she red haired but in her first episode she seemed extremely interested in Patrick which she thought would make him think she had never heard of him.