The following video is part of our "Motley Fool Conversations" series, in which analyst John Reeves and advisor David Meier discuss topics across the investing world.

David recently studied 10-baggers like lululemon athletica, ZAGG (a maker of electronic device accessories), and Kodiak Oil and Gas. He came away from that exercise with three steps for trying to identify 10-baggers. First, investors should be able to imagine a great future for the company. Second, they must embrace the possibility that they will be wrong. And finally, they should heed one of the best lessons of all from Peter Lynch, the man who coined the term "10-bagger" in the first place.

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David Meier owns shares of Infinera. John Reeves has no positions in the stocks mentioned above. The Motley Fool owns shares of Infinera , lululemon sthletica, and MAKO Surgical. Motley Fool newsletter services recommend Infinera , lululemon athletica, and MAKO Surgical. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.