Warm the broth. Pour the stock or broth into a pot and place over medium heat. Bring it to a gentle simmer and cover the pot to keep it warm.
Soften the onion. Heat 2 tablespoons butter in a deep skillet or heavy-bottomed sauté pan over medium-low heat. When the butter is melted, stir in the onion and cook, stirring often to prevent browning, until softened, 6 to 8 minutes.
Toast the rice. Stir the rice into the butter and onion and cook, stirring, until the grains look somewhat glassy and translucent and you can hear them crackle, 3 to 5 minutes. If your broth is not seasoned, add the salt.
Add the wine and broth. Raise the heat to medium-high and stir in the wine. Keep stirring until most of it has been absorbed, then lower the heat to medium and add a ladleful (3/4 cup) of hot broth and keep stirring until it is completely absorbed. Add another ladleful, stirring regularly and allowing the rice to absorb the liquid before adding more. Continue adding broth as needed and stirring until the risotto is creamy and al dente. Add a final splash of broth to give the risotto its signature “wavy” or “flowing” consistency; it should be slightly runny but still spoonable.
Finish and serve. Remove the pot from the heat. Add the cheese and 1 tablespoon of butter and stir vigorously until they're fully incorporated. Spoon the risotto into bowls and sprinkle a little more cheese and some freshly ground black pepper on top. Serve while still hot and creamy.
Notes
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How do you know when risotto is ready? The best way to determine doneness is to taste a small spoonful. The grains of rice should be al dente—slightly firm in the center, but not chalky. At this point, add just enough broth to make sure the risotto is “all’onda,” wavy and creamy, with grains almost suspended in starchy liquid. Now is the time to remove it from the heat and stir in a handful of finely grated Parmigiano cheese and a knob of butter to give the risotto a glossy finish.