Sea Limited (SE -1.99%) has been a wonderful investment since its IPO in 2017, and those who bought in early on are sitting on tenfold gains. But for investors just looking at this stock, does it have any more rocket fuel left in its tank? On a Fool Live episode recorded on March 12, contributors Brian Stoffel and Brian Withers discuss whether this Southeast Asian e-commerce, payments, and gaming company could become a 10-bagger for investors who buy shares today.

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Brian Withers: Here's a question from Aaron. Do you see Sea Limited as a potential five-bagger, 10-bagger or bigger? I certainly could see it as a five-bagger. Its market cap, today is $123 billion. It's got a long runway of growth, but these things take time and I don't think it's going to five-bag in five years. It may not even five-bag in 10 years.

The other thing that we don't know is, is it going to find adjacent markets to expand its addressable market over time? The reason Amazon has been such a big, huge winner for investors, is its original business of selling books online. If it just said we're just happy selling books online, it would've been a very lousy investment. But it got into selling more goods online, groceries, prime video, AWS [Amazon Web Services], you name it. The list goes on and on for what Amazon provides. That makes its addressable market bigger, and it makes it more likely to grow into a larger thing. That's the unknowns. I see Sea Limited and MercadoLibre they both have big dreams and I'm just excited to sit on the sidelines and watch.

Brian Stoffel: Yeah. I agree. I'm just looking through these questions here. I'm going to add to what you just said from Aaron. What I would say is this. Part of that question, could this be a five- or 10-bagger, that I just want to flip on its head, which is, for me, I don't ask that question. Because whenever you're trying to forecast and predict, then you're forgetting that much of the world today came about because of things that we couldn't predict. The last year is the most perfect example of that.

That's why I focus on anti-fragility, because the way that I measure it, those are things that you can actually see and put your hands on. and then I stop trying to predict what will happen at all and I say, if I'm investing in anti-fragile companies then I don't know what's going to happen and also it doesn't matter because I've done as much as I can to try and find companies that are anti-fragile. It might be a 10-bagger, it might not but I know why I invested in it. For me, that's enough, but to each their own.

Withers: Yeah. No, I think that's a great answer.