Recently Jim Cramer had dinner with a hedge fun manager who was trying to get Cramer to become positive on ethanol stocks, Cramer said on his

"RealMoney" radio show Monday.

The manager, whom Cramer referred to as "Mr. Ethanol," told Cramer about all the ethanol IPOs in the pipe.

"This guy knew the market inside and out," Cramer said.

But when the manager asked Cramer what he thought, Cramer said that though, he didn't "know jack about ethanol," he knew the life cycle of IPOs.

"I know that they start out strong but that the pipe will soon be jammed with primary and secondary offerings," Cramer said. "I also said the move would be short-lived and that he should sell every share he had."

Now, there's another IPO coming for

Hawkeye Holdings

, and Cramer doesn't want people anywhere near it, he said.

Oil stocks are going to continue to go down until we have some disaster or a pipeline break, Cramer said, adding that he doesn't want anyone in them until he gives the signal.

Meanwhile, when you take a look at restaurants and consumer staples --"they are on fire," he said. "The economy is strong and is getting stronger because oil is coming down."

Answering one of his many frequently asked questions, Cramer said he had his first interest in the stock market at a very young age. In fifth grade, he started a stock market game for people to play. While other kids would look at the sports section of a paper, Cramer said he enjoyed looking at stock charts.

Basically all he knew about the stocks was that they made people money when they went up and lost people money when they went down, he said.

"When I got out of school, I knew I was never going to make money with my paychecks," he said. So he started buying stocks he knew.

But Cramer emphasized that he doesn't want people to own individual stocks until they know how stocks work and are absolutely sure that they have the inclination to stick with the game. This is because he knows many people who get in don't have immediate success, panic and then get out.

Cramer doesn't want that to happen to his listeners, he said.

If people want to try it, Cramer he suggested going into mutual funds first.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

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