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"Booyah, Hoosiers!" Jim Cramer bellowed to the audience for his "Mad Money" TV show Wednesday, which was filmed at Indiana University as part of his "Back to School" tour.

"The bears have gone into hibernation," Cramer said from Assembly Hall, IU's storied basketball arena in Bloomington. "They could have knocked the market down today but they didn't because of one thing: fear."

The bears don't want to miss out on money coming into the market from private-equity firms ... or the multiple rate cuts that are surely coming from the

Fed

... or the multiple rallies that should happen as oil falls back below $60 a barrel, Cramer said.

No one wants to sell with all that going for the market, he said. "May the bears stay in hibernation until May so that the bulls can play."

That said, Cramer next welcomed Mark Cuban, the owner of the NBA's Dallas Mavericks and an IU alumnus, who ran onto the floor and hit a short jumper after Cramer fed him with a pass. Cramer asked Cuban if he would consider buying

Tribune's

(TRB)

Chicago Cubs.

"It's too early to tell," Cuban said. "You have to know what you're buying first ... and you don't say you're buying it until it's on sale." If Tribune were to approach Cuban after the baseball season, he said he would consider it.

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.

TheStreet Recommends

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) - Get Cummins Inc. Report

, Cramer said.

Image placeholder title

"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."

Cummins, said Cramer, has a story that can teach market-players "the single most important lesson" about stocks: "Wall Street is often, if not always, wrong." If people don't do their own homework, they're going to miss out on "way too many opportunities," he said.

Cramer called Cummins the "perfect local company" for home-gamers to invest in. Big investment banks don't send their analysts to Columbus, Ind., to check up on things as much as the locals could, he said.

"It was a stock no one believed in, but the money men were wrong," Cramer said. They expected a bad performance from the company this year and "sadly and stupidly," Cramer believed them. And the worst part is that at least the money men came to their own conclusions, but he listened to someone else's bad advice.

The Street believed that weak truck sales would mean weak engine sales for Cummins. While this turned out to be true in the U.S., sales from the rest of the world "saved" the company, Cramer said.

Right now, the stock's ratings are five sells, five holds and one buy, he said. "It has beat the Street too many times, don't let it beat you," Cramer advised. "This one should go up much, much higher."

IU Q&A

During a question-and-answer session, a student asked Cramer how he went from being a "small-time reporter" who used to cover murders to becoming a TV host and fund manager. Cramer said "luck was key."

He said he knows he has a "particular skill" dealing with the stock market, but that it doesn't go much beyond that. "I'm very lucky," Cramer answered. "I'm in a lot of right places at the right time."

Cuban said that when he graduated college in 1981 he had no idea what he was going to be when he grew up, if he ever grew up. But he was fortunate enough to go around and discover what he had a talent for and loved doing.

"You don't have to have all the answers when you graduate," Cuban said. "Don't be afraid to take chances, because now you have nothing to lose."Find out what you have the talent for and love to do and then work like anything to succeed, he said.

A student asked Cuban about his comments last year that it wasn't a good idea to buy YouTube

which

Google

eventually did and asked him if he still believed that.

"It was never a question about whether YouTube was popular or not," Cuban said. "It's really easy for anyone here to create a really popular site if you steal all the content you can steal."

YouTube has been sued and has been unable to sign deals, Cuban went on to say, but the good news for Google is it can deal with it, without the controversy hurting the stock, he said.

Cramer called students, who take part in the Kelley school's Reese Fund, to pitch their favorite stocks to him. The fund was set up in 1986 with a $100,000 gift.

The first student offered Michigan-based motor-vehicle manufacturer

Spartan Motors

(SPAR) - Get Spartan Motors Inc. Report

, calling it "money in the bank."

He said he liked that stock for three reasons. First, baby boomers "have dough ... and want to be outdoors," he said. For this reason, the demand for RVs has "shot through the roof."

Second, post-9/11 there has been a "huge" demand for firetrucks. Moreover, 54% of the firetrucks in the U.S. are at least 15 years old, and municipalities "don't want to be stuck with that liability." And lastly, it is a defense-spending play, Cramer said.

The second student pitched

Rock-Tenn

(RKT) - Get Rocket Companies Inc Class A Report

. It has pricing power, it is paying down debt and has a huge share-buyback, the student reasoned.

Moreover, all the analysts "hate" the stock and "shorts are pressing their bets," he said. Plus, the company is going to beat numbers its next quarter.

The last student named

Plantronics

(PLT) - Get Plantronics, Inc. Report

, calling it the "worldwide leader in headsets."

The Reese Fund has already made a lot of money off the stock and it should continue to do so because there is a "ton of growth left for the stock," he said.

Cramer said all three are "controversial names," but it's OK because he likes controversy.

Lightning Round

Cramer was bullish on

Consolidated Edison

(ED) - Get Consolidated Edison, Inc. Report

,

WellPoint

(WLP)

,

Celgene

(CELG) - Get Celgene Corporation Report

,

Gilead Sciences

(GILD) - Get Gilead Sciences, Inc. Report

,

Genzyme

(GENZ)

,

Abbott Labs

(ABT) - Get Abbott Laboratories Report

,

Marshall & Ilsley

(MI)

,

Dendreon

(DNDN)

and

Starwood Hotels

(HOT)

.

Cramer was bearish on

DTE Energy

(DTE) - Get DTE Energy Company Report

,

Eli Lilly

(LLY) - Get Eli Lilly and Company Report

and

MedImmune

(MEDI)

For more of Cramer's insights during the Lightning Round, click here

.

Want more Cramer? Check out Jim's rules and commandments for investing from his popular book by

clicking here

.

At the time of publication, Cramer was long UnitedHealth.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.