Hi hygeawater
How you configure it is up to you. This is so flexible to allow you to configure it according to your business logic.
If you need to manage your bundles' stocks as if they were regular products (independently), you should check the "Manage Stock" option.
There are times that the bundles are sold but not the products within (separately) and others when bundles and single products can be sold at the same time.
So just find the configuration that suits you and use it 😉
Just note that if you add multiple inventories to any bundle and you leave the "Manage Stock" unchecked, the first inventory (if in stock) will be used for all the orders and the second one won't be reached, ever.
Best Regards,
Salva.