Step 1: Position a rack in the lower third of the oven and pre-heat to 350-degrees Fahrenheit.
Step 2: In a skillet over medium heat melt the butter. Stir in the onions, thyme, and bay leaf. Cover and and cook stirring occasionally, for 15 minutes or until tender.
Step 3: Lay the brisket (fat side up if you are using the point cut) in a heavy casserole.
Step 4: Scrap the onion and herbs over the beef, pour the broth around it, and bake, covered, for about 2 1/2 hours, or until the meat is tender. Regulate the oven temperature to maintain the meat at an even simmer.
Step 5: Scrape the onions off the meat, transfer the brisket to a pan, and keep it warm.
Step 6: Force the onions and braising liquid through a sieve into a saucepan. Set the pan over high heat and stir in the cream, bringing it to a boil.
Step 7: Lower the heat slightly and simmer briskly, skimming any scum and surface fats, until the gravy is reduced to about one-third, 10 - 12 minutes.
Step 8: Stir the horseradish into the gravy, adjust the seasoning, cover, and keep warm.
Step 9: Slice the brisket thinly across the grain and on an angle.
Step 10: Arrange the meat on plates , fanning the slices slightly, and drizzle some of the gravy over each portion. Pass the remaining gravy at the table.
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