As a complement of the answers above, here is a sum up about Redirections:
EDIT: This graphic is not entirely correct.
The first example does not use stdin at all, it's passing "hello" as an argument to the echo command.
The graphic also says 2>&1 has the same effect as &> however
ls Documents ABC > dirlist 2>&1
#does not give the same output as
ls Documents ABC > dirlist &>
This is because &> requires a file to redirect to, and 2>&1 is simply sending stderr into stdout