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Cramer's 'Mad Money' Recap: High on Clearwire

Click here for an archive of Cramer's "Mad Money" recaps.

Craig McCaw, the "greatest moneymaker" in the telecom sector, is coming out with an initial public offering next week that market players should try to get a piece of, Jim Cramer told viewers of his "Mad Money" TV show Thursday.

He likes Clearwire, which is set to come public on the Nasdaq under the symbol CLWR, not only because it has a great technology but also because he is convinced by the "great man" behind the company.

McCaw has an "incredible track record," and history shows that putting money into his ventures has made people mad money, Cramer said.

McCaw can recognize a good new technology early on, he said. And with Clearwire -- his "next big show" -- McCaw sees a promising future for WiMax, the company's technology.

Although some of his ventures have been disappointing, Cramer said that even one of his biggest failures could have made people a fortune if they had been careful about profit-taking.

Clearwire's WiMax will enable the delivery of wireless broadband as an alternative to cable and DSL, he explained, saying it's like Wi-Fi but quicker and more efficient. "On 'Mad Money,' we know that broadband is the place to be," Cramer said.

The IPO should price between $23 and $25; Cramer said he would be willing to pay $28 to $35 for it because he "subscribes to the 'great man theory.'" As Cramer expects the stock to dip after the "initial IPO buying frenzy," he advised viewers to buy a quarter or half of their positions after Clearwire goes public and to wait for a dip to put the rest of their positions on.
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