Cramer's 'Mad Money' Recap: Hoosier Daddy

The Mavs, he continued, have overall been a "great" investment.

When Cramer asked Cuban if he, like himself, believes in starting off early in the stock market, Cuban told the Indiana students, many of whom were graduate students at the Kelley School of Business, that the "dumbest thing" they could do is buy a stock. "Invest in equity you understand and you know better than anybody else," he said. "Improve your own value first."

Philosophically, Cramer agreed that it's a good move. But he said historically it has been good for people to get in the stock market early on.

Whenever people make a trade, there's someone else on the other side of that trade, Cuban said. "For every stock you have a reason to buy, they have a reason to sell," he said. But if your reason to buy is strong enough, then buy the stock, Cuban said.

Further, Cuban said he believes the stock market can keep rising. "It's about supply and demand," he said. With all the money coming in right now, Cuban said he believes the market is offering a great opportunity.

Cummins Hummin'

A stock that should make people "truckloads of money" is Indiana-based Cummins Engine (CMI Quote), Cramer said.

"It deserves a triple Back to School buy," he said. "This baby isn't cheap [$145 a share] especially if you're a student, but if you don't have that much money, buy just one share."