BKS is enjoying a short term benefit from border's bankruptcy....soon the long term trend will make itself apparent and the performance at the stores will devastate.
If ebooks win, BKS is screwed. they don't have the balance sheet, tech competency, scale...etc to beat amazon. period. If tablets win, BKS is screwed because they aren't beating apple. The stores are screwed over the long run because of ebooks and shipping pbooks online. the stores are just too large.
I stopped shorting stocks a while ago...but if BKS gets any higher I might break that rule. A lot of these fund managers are old guys who are emotionally attached to pbooks.