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1
Boil the beets until tender, approximately 40 to 60 minutes, in salted water.
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2
Cover your cutting board with parchment paper to protect it from beet stains and wear plastic gloves to protect your hands.
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3
Peel and chop the beets into one-quarter-inch dice and set aside.
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4
Warm a nonstick pan over high heat and add the pancetta.
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5
Cook it until lightly crisp on all sides, approximately 8 to 10 minutes, and set aside.
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6
Bring the chicken stock to boil in a pot and lower the heat to keep it at a low simmer.
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7
Melt one tablespoon of the butter in a medium, enameled cast-iron pot over medium heat.
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8
Sweat the chopped shallots for three minutes.
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9
Add the thyme and rice and stir well for three minutes, until the rice is well coated (do not let the rice color).
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10
Add the red wine, mix well, and let the rice absorb it.
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11
Slowly stir in chicken stock to the level of the rice (about one cup) and simmer.
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12
Stir constantly and add more chicken stock, one-half cup at a time, as it is absorbed by the rice.
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13
After 15 to 18 minutes of cooking (or until the rice is al dente), mix in the diced beets, half of the cooked pancetta, three-quarters of the watercress leaves, the grated Parmesan cheese and the remaining two tablespoons of butter.
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14
Season to taste with salt and pepper and discard the sprig of thyme.
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15
Transfer the risotto to a warm bowl and sprinkle with the remaining watercress leaves and pancetta.
