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1
Prepare a wood-fired oven or cooker for cooking with indirect heat.
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2
Heat the olive oil over medium heat in a 4-quart Dutch oven or clay pot, then add the butter to melt.
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3
Add the onions and cook over indirect heat, stirring frequently, until they soften and just begin to brown, about 40 minutes.
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4
Add 1/2 cup of the stock and move the pot to high heat.
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5
Stir to scrape up the browned bits from the bottom of the pot and cook until the stock has completely evaporated.
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6
Add the Madeira, Worcestershire sauce, and another 1/2 cup of the stock.
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7
Add the nutmeg and stir.
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8
Repeat, adding 1/2 cup stock and cooking until evaporated, 2 more times.
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9
Add the remaining 8 cups of stock, the thyme, bay leaf, and salt and pepper to taste.
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10
Simmer for 20 minutes.
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11
Taste and adjust the seasoning.
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12
Remove the thyme sprigs and bay leaf.
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13
Bring the oven to 400F.
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14
Ladle the soup into deep heat-resistant bowls or crocks.
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15
Sprinkle half of the cheese over the soup and place a slice of the toast on top.
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16
Sprinkle the toast with the remaining cheese.
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17
Place the bowls on a baking sheet and bake until the soup bubbles and the cheese is melted and golden, 10 to 15 minutes.
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18
Serve hot.
