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"Welcome to Mad Money 101," Jim Cramer told viewers of his "Mad Money" TV show, which was broadcast from the University of Michigan as part of his "Back to School" tour Tuesday.

"I am putting my fashion reputation on the line to try and make you some mad money," he told the audience in Ann Arbor, Mich., suggesting they should take a look at

Wolverine World Wide

(WWW) - Get Report

.

The footwear maker's main brand, Hush Puppies, has already hit a "tipping point" and become widely popular, he said. Cramer believes that the company's other brands, including Merrill and Caterpillar boots, will see a similar fate.

Wolverine shares trade at 17 times next year's earnings, which is cheap, he said. Moreover, the Rockford, Mich., company just reported a fabulous quarter on April 19, and the stock jumped.

"This is where we pull out our discipline," he said. When a stock reports a great quarter and has a big run, it's time to play a waiting game.

Cramer said that it's generally a good idea to wait a few days for people to start taking profits, and then to buy the stock when the price pulls back.

If it's a good stock, the pullback won't last and the price will start moving higher again, he said.

Pizza Special

After a couple of Cramer doppelgangers took the stage to throw chairs in the traditional prelude to the show's Lightning Round segment, Cramer welcomed

Domino's Pizza

(DPZ) - Get Report

CEO David Brandon to the stage.

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"In just six years at the helm,

Brandon turned a college favorite into a financial powerhouse," Cramer said of the University of Michigan alumnus.

Wall Street says that Domino's can't follow its own act, Cramer said. But Brandon replied that such a sentiment is ridiculous, and that with steady results for the last seven years he is confident that the company will continue to perform well.

The Ann Arbor-based company has bought stock back from Bain Capital, which led Cramer to ask whether the company wants Bain out of the picture.

Brandon said that it really isn't a concern for him. Bain is a great private equity firm that has added value to the company, he said, but the company now has a substantial amount of cash and is using it to buy back stock.

He added that his company is growing its business by building stores domestically and internationally and that Domino's has generated positive same-store sales domestically for 12 years in a row.

The company grows earnings at 11% and has an 18 multiple, Cramer said, noting that

Papa John's

(PZZA) - Get Report

has a 26 multiple. He asked Brandon how he plans to close that gap.

"We're better than them and ultimately we'll get the valuation we deserve," Brandon said, adding that Wall Street just needs to become better acquainted with his company to see that there's a lot of value there.

To watch Cramer's video segment with Brandon, please click here.

It Pays to Research

Cramer said that when he was in college "people either did drugs or they did homework." And whether or not things have changed, he told the University of Michigan audience that he wants to make homework more appealing.

Mad Money homework gives you incentive, he said. "You write a great essay and the best possible outcome is that you get an A. Cramer's got nothing against the alphabet, but when you do my kind of homework ... you can make mad money."

He used

Comfort Systems

(FIX) - Get Report

to walk the audience through what it takes to get the homework done.

In order to get himself to Comfort Systems, first he needed an idea. And he came up with his idea while listening to the conference call for a totally different company, the conglomerate

United Technologies

.

Every major publicly traded company holds a conference call when it reports earnings, he said. And these calls are usually available on the company's Web site.

You're always listening for something that is better than expected, he said, some part of the business that is booming. From there, he said to extrapolate and find other companies that should benefit from this trend.

While he was listening to the United Technologies call, the company said that its heating ventilation and air conditioning (HVAC) business saw its business improve on double-digit growth and higher prices.

That gave him his idea -- HVAC -- so he looked for all of the companies that are involved in this segment.

The first company he came up with,

Goodman Global

( GGL), didn't pan out because it is levered to the residential market. United Technologies does commercial HVAC work.

But Comfort Systems does heating and air for commercial and industrial markets, so Cramer decided to investigate further.

He went through the earnings report, analyst research and articles to see if the company's fundamentals were up to snuff. After all that work, he decided that he had found an undervalued stock that is ready to run higher.

If you can do all of this, you'll be doing the work of a Wall Street analyst in about two hours, he said. And if you figured it out before the Street did, then you can get in and make money before the analysts hand this knowledge out to everyone else on a "silver platter."

The Build in Infrastructure

It's not hard to tell which stocks are in bull mode because they're the ones that are going higher, Cramer said. But it's hard to know which ones have legs and how to play them.

Right now the infrastructure sector is in a "fantastic bull market," he said, especially for energy infrastructure.

Because there is a scarcity in energy infrastructure, he believes that this will be a long-term story. And because it's long, "you'll be able to do a 'mon back* every time these stocks get hit," he said.

After decades of underinvestment in the energy infrastructure around the world, there aren't enough power plants and it's getting hard to produce enough power, Cramer said.

But even the best bull markets need catalysts before the stocks will really move, he said. And the energy infrastructure space got a catalyst when

TXU

( TXU) announced last week that it plans to spend $10 billion on 11 new coal plants.

This is much more than the market had expected the company to invest, he said. And when you get this kind of news in a sector that's already in bull mode, "it's like Christmas came early."

TXU said it would use

Fluor

(FLR) - Get Report

and

Bechtel

to do the work.

Bechtel is not publicly traded and everyone will go out and buy Fluor on this news, Cramer said. That's why "you have to be clever and go further down the food chain." Both companies will outsource work to other companies, he said.

Among the subcontractors you need to look into buying, he said that

Caterpillar

(CAT) - Get Report

and

Terex

(TEX) - Get Report

will provide the construction machinery used to build the plants.

He said that

McDermott

(MDR) - Get Report

and

Foster Wheeler

(FWLT)

make equipment that that gets rid of pollution produced by coal plants.

He said he would buy

ABB

(ABB) - Get Report

(a stock he owns for his

ActionAlerts PLUS charitable trust) because it provides systems integration automation for power plants, and

InfraSource Services

(IFS) - Get Report

, which takes care of transmission distribution.

Finally, he said that he would take a look at

SPX

(SPW)

because the company makes cooling towers.

The show ended with a student who asked Cramer for a stock recommendation that was cheaper than

Google

(GOOG) - Get Report

, which she said is too expensive for college students to buy.

He said that he'd rather own one share of Google than a lot of shares in a lesser company. But if even one share is not feasible, then Cramer said to take a look

Yahoo!

(YHOO)

, which has a similar valuation and sells for a fraction of the price of Google.

Lightning Round

Cramer was bullish on

Cisco Systems

(CSCO) - Get Report

,

Wells Fargo

(WFC) - Get Report

,

Abercrombie & Fitch

(ANF) - Get Report

,

Occidental Petroleum

(OXY) - Get Report

,

Nabors

(NBR) - Get Report

,

GameStop

(GME) - Get Report

,

Anglo American UK

( AAUK),

Lehman Brothers

( LEH),

Bear Stearns

( BSC)and

Goldman Sachs

(GS) - Get Report

.

Cramer was bearish on

Wachovia

(WB) - Get Report

,

Pacific Sunwear

(PSUN)

,

Royal Dutch Shell

(RDS.A)

,

BP

(BP) - Get Report

,

Diamond Offshore Drilling

(DO) - Get Report

,

North American Palladium

(PAL)

and

Dick's Sporting Goods

(DKS) - Get Report

.

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

.

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

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

clicking here

.

At the time of publication, Cramer was long ABB, Foster Wheeler, Nabors, Occidental Petroleum and Yahoo!.

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.