Step 1

In a large heavy pot such as a dutch oven, melt the butter (1 tablespoon) with the olive oil (1 tablespoon) over medium heat. Add the 2 chopped onions, stir to coat in the oil and butter, and sauté until translucent and softened, but not browned, stirring occasionally, about 5 minutes. (If the onions are browning, turn heat down to medium-low and add a little water, or cover to keep the steam in.)

Step 2

Add 2 cups of water to the pot, as well as the pinch of thyme, two bay leaves, kosher salt (1 teaspoon) and black pepper (1/4 teaspoon). Bring to a boil.

Step 3

Add the cod (2 pounds) to the pot. Place the pieces so they are flat and in one layer (or if your filets are very thin, stacking them is fine). The water should come up to the top of the pieces, but not submerge them. If the water seems too low, you can add 1/2 cup to 1 cup more. Bring it up to a low simmer, cover, and cook on low for 4-5 minutes until the fish flakes apart (if your burner is hot, you can just turn off the heat and cover).

Step 4

Using a fish spatula or slotted spoon, remove the fish to a large plate or rimmed baking sheet (I used a quarter sheet pan). Place the plate in the fridge or freezer, if you have room, for a couple of minutes so it cools faster and doesn't continue to cook. When the fish is cool enough to handle, gently flake it apart with your hands. You want the flakes to remain intact - don't over-flake it!

Step 5

Add the clam juice (8 oz.) to the pot, as well as the cubed potatoes. Bring to a boil, cover, and simmer on low for about 15 minutes, or until potatoes are cooked (pierce one with the tines of a fork to check if it's soft enough).

Step 6

While the potatoes are cooking, scald the milk. Place the milk (1 cup) and the quartered onion layers into a small saucepan. Bring it to a boil, then turn the heat to low and simmer uncovered for 5-7 minutes. Watch it carefully, as boiling milk will bubble up and might boil over!

Step 7

When the potatoes are finished cooking, strain the scalded milk through a mesh sieve into the pot. Add the flaked fish, as well as the chives (1/2 tablespoon) and the small pinch of nutmeg (we used fresh nutmeg; just a couple of grates on a microplane zester will do it).

Step 8

Bring the chowder back to a simmer. Turn off the heat. Stir in the heavy cream (1 cup), being careful to stir very gently so as not to break apart the fish too much. Season with salt and pepper to taste, if necessary.

Step 9

Serve. If you like, garnish each bowl with a small pat of butter, some more nutmeg and chives, and fresh grated black pepper.