Step 1: Preheat oven to 300º F. Grease large bundt pan very well.
Step 2: Cream together butter, vegetable shortening and granulated sugar until light and fluffy, about 3 minutes. Add eggs one at a time, making sure each is fully incorporated before adding another, then beat about 3-4 minutes until thick. Beat in vanilla extract.
Step 3: Reduce mixer speed to low, or use a large spoon, mix in flour and milk alternately, making sure to combine well but not to over mix!
Step 4: Pour batter into prepared pan.
Step 5: Bake 1 1/2 hours or until a cake tester skewer inserted in the center comes out clean.
Step 6: Remove from oven and allow to cool for about 10-15 minutes on a wire rack before turning the cake out onto a wire rack to cool completely.
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