Combine. Combine all the ingredients in a large (8 quart) pot.
Heat. Bring the mixture to a boil, stirring frequently, over medium heat. Watch closely as it will boil rapidly in the beginning.
Cook. Reduce heat until mixture is gently boiling. Not too low or it will take forever, but not too high that it is at an angry boil. Stir occasionally and once it is golden brown and starting to get thick, stir more frequently.
Check for doneness. Once mixture is thick and a spoon scraped on the bottom of the pot leaves a distinct trail that takes a second to run back in on itself it is ready. This can take anywhere from 30 minutes to an hour and a half depending on how rapidly it is boiling. Mine usually takes about 45 minutes.
Enjoy! Let sauce cool at least 30 minutes then drizzle over your favorite treat or transfer to a container with a tight lid and refrigerate for up to 2 months.