1. Hot money is a short-term operator who can get the highest return in the shortest time, while fund managers are long-term operators who mainly invest in value and pursue long-term and stable returns. When the number of a single stock held by a fund manager exceeds 5% of the market value of the stock, it will be included in the top ten shareholders, and the top ten shareholders cannot sell the stock within six months, so the fund manager is optimistic that a stock will be held for a long time.

2. Hot money generally participates in theme stocks and hot stocks, while fund managers generally participate in blue-chip white horses and growth stocks, and their investor goals are different.