What's Hot on TheStreet

Here's what Benzinga's reading on our friend,

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Apple's

closed ecosystem for smartphone and tablet applications -- limited to its own iPhones, iTouches and iPads -- is often touted as a quality control measure that benefits consumers. It's a selling point that challenges the wide-open approach of Google's

Android marketplace.

Bill Miller was on top of the investment world just five years ago. Since then his $3.85 billion Legg Mason Capital Management Value (

) mutual fund lost nearly 40%, whereas the SPY had a slightly positive return.

Some proponents of index funds have been making extravagant claims. Index funds always outperform actively managed funds, the proponents say. Plenty of investors have been persuaded, and they are pouring money into index mutual funds and ETFs.

As the quality of smartphone cameras continue to improve, consumers will gradually replace their digital cameras with those found in their smartphones, according to analyst firm iSuppli.