Dulce de Leche

Directions

1. 1
   In a large, heavy pot, combine all of the ingredients and bring to a boil, stirring with a wooden spoon until the sugar is dissolved.
2. 2
   Reduce the heat and simmer over moderate heat, stirring frequently, until the mixture is reduced to 2 cups and is the consistency of warm caramel, about 40 minutes.
3. 3
   Discard the cinnamon stick and let the dulce de leche cool to room temperature.
4. 4
   Transfer the dulce de leche to a blender and puree until smooth.
5. 5
   Skim off the foam and transfer to a pitcher.