FORTUNE: Back to the lightning round: Make a call on the market. Seven years from now, will the S&P 500 have returned over or under 10% annually? BUFFETT: More likely to be under than over. You’re not going to have the GDP in nominal terms grow 5% a year and everybody make 10% a year. GATES: I’d say under, most likely. The notion that returns will continue to be superhigh—there are some clouds out there.
