If the fund manager buys the fund he manages, even if he loses a lot, he should not have to leave his job and bear the losses himself; If the fund manager doesn't buy the fund he manages, even if he loses money, it won't have much impact on himself and generally won't resign.

Although the fund loss will affect the bonus, the main income has no effect. They all earn money by collecting fees, which is enough for them to eat. To put it more bluntly, the loss of the fund has nothing to do with them.

For fund managers and fund companies, there is a very incisive saying: with my mind and your money, we have nothing to lose except your money.