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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday February 15. Click on a stock ticker for more analysis:

** CORRECTED VERSION

New IPO on the Block: Clearwire (CLWR)

Cramer says he subscribes to the "great man theory" when it comes to his bullishness on next week's IPO, Clearwire, which is the brainchild of Craig McCaw, "the greatest moneymaker" in the telecom sector. McCaw sees potential in WiMax, which enables wireless without cable and DSL and is more efficient than Wi-Fi; Cramer says that broadband is "the place to be." He expects the IPO to be somewhere between $23 or $25, but he would be willing to pay up to $35 for it. Cramer would buy a quarter or half a position initially and the other portion when it dips after the "initial buying frenzy." Cramer remarks that Clearwire is not just a trade, but "a stock I like long term. Be patient and build a position."

Sell Block: BP Prudhoe Bay Royalty (NYSE:BPT) and Frontline (NYSE:FRO)

A high dividend is not always a good thing, particularly if a company cannot support it, and huge yields such as those offered by BTP and FRO give a false impression of a company's health, says Cramer. When a dividend is excessively high, the stock will go lower, he said, or a company will have to cut the dividend to survive. Cramer would sell these stocks.

Related: Stockerblog discusses the truth behind FRO's high yield.

CEO Interview: Bahram Akradi, Lifetime Fitness (NYSE:LTM)

When Cramer asked why LTM was down $1.77, Bahram Akradi confessed that he did not understand the drop given the company's great quarter. He says that analysts don't like the gym's three-story urban-residential model because they are assuming that what doesn't work for retail won't work for fitness centers. However, Akradi believes that the company's merits will shine through and doesn't worry about short-term bearishness. Cramer added, "The numbers are good... Don't believe The Street."

Related: Tate Dwinnell calls LTM a "healthy, long-term investment."

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Source: Jim Cramer's Mad Money In-Depth Stock Picks, Feb. 15