Between Mandela and Hillary Clinton, and rounds of golf with Bill Gates and Warren Buffett -- Ernie is a gold glove name-dropper, but he's earned the right -- Banks established himself as a part of baseball history. In 19 years with the Chicago Cubs, he hit 512 home runs, won two Most Valuable Player awards and etched his agreeable nature forever in popular culture with the slogan "Let's play two!"

During your baseball career, how did you manage your finances?

In my second year with the Cubs, P.K. Wrigley [Cubs owner and CEO of Wrigley Gum Co.] had a banker meet with the team and offer to set up a trust at the First National Bank here in Chicago, to save a little bit of money at a time, whatever we wanted to save. I think I was the only one who took it. I couldn't touch it until I was 55, but they invested it in stocks and when I was 55, I had $4 million in the bank.

How much was taken out?

It was half of what I made. Half of what I made each pay period, throughout my career.

You don't hear many athletes today crediting team owners for their good fortune. It seemed like you did well by the Wrigley family.

I learned from Mr. Wrigley, early in my career, that loyalty wins and it creates friendships. I saw it work for him in his business. I kind of grew up in this city, where loyalty really counted. The Wirtz family here. George Halas, who owned the Bears. I worked for another company, New World Van Lines, which was very loyal to their people. Mayor Richard J. Daley was the mayor when I first came here. He was very loyal to his constituents. Loyalty and friendship, which is to me the same, created all the wealth that I've ever thought I'd have. When I wake up in the morning, I feel like a billionaire without paying taxes.

Did you learn anything about investing from Wrigley?

Mr. Wrigley believed in this: Put all your eggs in one basket and watch the basket. They don't do that today. This is the old-fashioned way I'm talking about. He carried it on to his business. Do one thing and stay with it. I learned that from Mr. Buffett, too. He deals with things that are permanent, like Coca-Cola: People will always drink Coke. Gillette razor blades: People are always going to shave. But it all comes down to friendship, treating people right.

When I was the first black Ford dealer in the United States, Mr. Wrigley and my friendship with him is what made that happen. He knew Mr. Ford. I called Mr. Wrigley and said, "Mr. Wrigley, I'm going into this business and I don't know a lot about it, I need your help." He said OK and he called up Mr. Ford and they set me up in the dealership as a partnership. Mr. Wrigley even bought the first car from me. And when I got in a little difficulty, they got me out. Friendship is what I'm talking about.

When you retired from baseball, did you know what kind of work you were going to do after that?

Work? I never worked a day in my life. I always loved what I was doing, had a passion for it. Bill Gates told me that in February. I was with him and Warren Buffett. He said, find your passion and go with it.

Where did you meet Buffett and Gates in February?

Buffett invited me to a golf tournament in Omaha and I went to play in it, and we became friends. And he invited me to his stockholders meeting.

Do you own any Berkshire Hathaway stock?

I own stock, and I also insure my car with Geico.

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