I still don't believe this theory fully myself but look at this.

-I hear people talking about the list of 7 people is fake. That red John is not on the list.
I see people accusing walter Mashburn as Red John, when rigsby searched at Sophie Miller's house there was a name named Washburn which looks very similar to the name Mashburn.


-Also Walter Mashburn liked Lisbon, and that could be why he didn't kill her.
-Mashburn visited Lisbon in a red sweater.

-Also on the recorder of Sophie Miller you hear Sophie talking about some phobia he has. Look at this video http://www.youtube.com/watch?v=pL336yZCB90. In this video Jane is cold reading Washburn and he says he had some kind of phobia. Coincidence?

What do you guys think?