For more than five months, Wall Street and investors have dealt with some of the wildest vacillations in stock market history. The coronavirus disease 2019 (COVID-19) pandemic initially lopped 34% off of the benchmark S&P 500 in less than five weeks. Then, during the second quarter, the broad-based index turned in its best quarter since 1998.

If you're a short-term trader, it's probably been a nauseating ride. But for long-term investors, it's just another bump in the road to reaching financial independence. That's because every single stock market correction in history has eventually proved to be an opportunity to buy great stocks at a discounted price. The same will eventually be said for the coronavirus pandemic bear market.

But picking out great stocks to buy is only half the challenge. Holding onto these positions for lengthy periods of time is the other half of the formula needed to generate significant returns.

An antique pocket watch lying atop a fanned pile of cash.

Image source: Getty Images.

In other words, if you want to $10,000, all you need to do is simply invest $1,000 into great stocks and wait. Here are four great stocks that offer investors true multi-bagger potential.

Pinterest

If its second-quarter operating results are a guide, social media site Pinterest (NYSE:PINS) is going to become a monster in the years to come.

Though it might seem like social media is an easy formula to get right, user growth tends to slow or stall for most platforms after a few years. That's not been the case for Pinterest, which recorded 39% monthly active user (MAU) growth from the prior-year period, ended June 30. With 416 million MAUs, Pinterest's ad-pricing power continues to grow. Plus, with many of these new MAUs hailing from overseas markets, there's the opportunity to double, triple, or quadruple average revenue per user in the years to come.

But what makes Pinterest such an intriguing long-term hold is the role it'll play in the specialized e-commerce space. With its users willingly sharing their interest, hobbies, and ideas online, it only makes sense for Pinterest to allow small businesses to target these interests. Having partnered with e-commerce platform Shopify, Pinterest is giving small businesses all the tools necessary to turn passive engagement online into action.

Pinterest is the type of company that shouldn't have a problem growing at a double-digit rate for the next 10 years.

A woman using a glucometer to check her blood sugar level.

Image source: Getty Images.

Livongo Health

Don't let it's more than 400% run higher in 2020 scare you away -- healthcare solutions provider Livongo Health (NASDAQ:LVGO) is a volcano that's just clearing its throat.

A big theme this decade is going to be the push toward precision medicine and/or telemedicine. Therapies and devices that are tailored to individual patient needs are expected to thrive; and this is precisely what Livongo is targeting. By incorporating artificial intelligence and collecting mountains of patient data, Livongo is aiming to send tips and "nudges" to its members with chronic illnesses to elicit long-lasting behavioral changes. In other words, it's helping people with serious illnesses stay on top of their disease and live healthier lives.

But this isn't just a feel-good mission statement with no teeth. There are real growth figures to back up its goals. Livongo has seen its Diabetes member patient count at least double on a year-over-year basis in each of the past couple of years, and the company has delivered two consecutive quarters of a surprise profit. What's so impressive about these two quarterly profits is that Livongo is generating income despite only having signed up 0.95% of U.S. diabetes patients -- a little north of 328,000 Diabetes members compared to 34.2 million people in the U.S. with diabetes.

With Livongo Health pivoting its healthcare solutions platform to weight management and hypertension, among other chronic illnesses, it could have a potential addressable market in the U.S. of more than 40% of all adults, in my view. That makes it a near-surefire long-term winner.

A consumer using their smartphone to pay a bill at a Square-sponsored register.

Image source: Square.

Square

Investors almost certainly can't go wrong investing $1,000 into fintech stock Square (NYSE:SQ) and letting their money ride for a long time to come. As the war on cash kicks into high gear, Square is going to become a clear-cut beneficiary two different ways.

First of all, Square should see relatively steady growth in gross payment volume (GPV) crossing its seller ecosystem network throughout the decade. Last year, Square saw $106.2 billion in GPV traverse its network. But what stood out was that 52% of GPV in the coronavirus-challenged first-quarter was derived from larger merchants (defined as having an annualized GPV of at least $125,000). Square is a company that's been historically known for providing a processing platform for small and medium-sized businesses. If larger merchants are beginning to latch on, the sky becomes the limit when it comes to fee collection and lending potential. 

The other exciting aspect of Square is the company's peer-to-peer payment platform Cash App, which set records for monthly signups in both March and April. Mind you, this comes after MAUs more than tripled from 7 million, to end 2017, to 24 million, to end 2019. Square has all sorts of ways to make money off of Cash App users, via merchant fees, expedited transfer fees to and from a bank account, and bitcoin exchange fees. Within a few years, Cash App should become Square's primary profit driver.

According to Wall Street, Square's revenue is expected to more than quadruple between 2019 and 2023, which makes it one of the fastest growing publicly traded companies.

A surgeon holding a one dollar bill with surgical forceps.

Image source: Getty Images.

Intuitive Surgical

A final way to get $10,000 by investing only $1,000 is by purchasing surgical system developer Intuitive Surgical (NASDAQ:ISRG).

Intuitive Surgical's da Vinci surgical system has been the go-to resource for assistive robotic soft tissue surgeries for the past two decades. The company had 5,764 of its da Vinci systems installed worldwide, as of June 30, which is far more than any of its competitors, combined. What's more, big-name potential competitor Johnson & Johnson has run into a snag in its efforts to launch competing surgical systems. This just means Intuitive's already mammoth lead in surgical systems will extend even more. 

The beauty of Intuitive Surgical's business model is that it's built to generate improved operating margins over time. The initial sale or lease of a pricey da Vinci system ($0.5 million to $2.5 million) doesn't do a whole lot for Intuitive Surgical considering how intricate and expensive these systems are to build. Rather, the bulk of the company's operating margin is derived from selling instruments and accessories with each procedure, as well as in servicing these systems. Thus, the more systems installed worldwide, the greater the percentage of total sales being derived from these higher-margin channels.

And don't overlook that robotic-assisted surgeries are still just taking off. Intuitive Surgical may hold the lion's share of gynecology and urology surgeries, but there's a huge runway to gain additional share in thoracic, colorectal, and general soft tissue surgeries. Similar to the companies listed above, a double-digit annual growth rate is the expectation.