Dick Bove: Crazy-Smart, or Just Crazy?

"All of these charges that you see are all non-cash charges and they reflect events that occurred two to three years ago," he continues. "Every aspect of how you would analyze a bank other than loan losses is up."

Bove is expecting dismal second-quarter earnings from the banks, "but I think the numbers are going to be better than they were in the first quarter," he says. "If nonperforming assets stabilize, the bank stocks will take off. If they continue to deteriorate, the bank stocks will stay under pressure."

Despite having seven children and 13 grandchildren all located near his home outside of Tampa, Bove has no plans for retirement.

"I hope I die at my desk, as they say," Bove says. "This is fun. This stuff is great. This stuff constantly changes. This stuff challenges every aspect of what you do. This stuff gives you tremendous lows and tremendous highs. How can you replace that with sitting on some hammock looking at the ocean in Hawaii?"