Place the rice in a fine-mesh strainer and rinse under cold water until the water runs clear. Soak the rice in a bowl of warm water for 10 minutes, then drain completely.

In a medium saucepan with a tight-fitting lid, heat the butter and olive oil together over medium heat. Using both fats helps prevent the butter from burning while providing a rich flavor.

Add the broken vermicelli pasta to the melted butter mixture. Cook, stirring continuously, until the pasta turns a deep, nutty golden brown color, which should take about 3 to 4 minutes.

Stir in the drained rice, ensuring every grain is coated in the butter and oil. Toast the rice for 2 minutes until the edges become slightly translucent.

Carefully pour the hot broth into the saucepan, taking caution as it may sputter. Stir in the salt and black pepper, and bring the mixture to a gentle boil.

Reduce the heat to the lowest possible setting, cover the pot with the lid, and simmer undisturbed for 15 minutes, or until all the liquid has been absorbed by the rice.

Remove the pot from the heat without removing the lid. Quickly place a clean kitchen towel or paper towel between the pot and the lid to absorb excess steam, and let it rest for 10 minutes before fluffing with a fork and serving hot alongside your favorite protein.