Jim Cramer vs. Jon Stewart, Round 2; Round 3 begins tonight

“The Daily Show” host Jon Stewart had another critique of CNBC‘s coverage on Monday night, and then CNBC’s Jim Cramer, host of “Mad Money” went on the Today show Tuesday morning to defend himself.

Matea Gold of the Los Angeles Times writes, “‘Did I make a mistake?’ Cramer added. ‘First of all, any time you recommend a stock and it goes down, you’ve made a mistake. Here’s a shocker: Almost every stock is down! Any stock you recommended is bad. You know, Warren Buffet, I could run tapes from him, he would look like a complete fool.’

“The ‘Mad Money’ host noted that Stewart has not shown the clip of Cramer’s appearance on ‘Today’ in October, when he caused a stir by saying people should immediately sell and get out of the market.

“‘That was 35 percent ago,’ Cramer said. ‘Whatever he says, Bear Stearns this or that, that was a call that should have wrecked my career. And it would have, if the market had gone up. But I stuck my neck out and did it and saved a lot of people money.’

“UPDATE: Apparently, that won’t be the final word on this topic. According to a Comedy Central spokesman, Stewart plans to volley back at Cramer yet again on tonight’s ‘Daily Show.'”

Read more here.