In a
medium-sized pot, bring the broth, milk and water to a boil. Once boiling, turn the heat down to medium-low and slowly whisk in the corn meal. If you dump all the corn meal in at once, there will be lumps. Continue whisking (or stirring) until the polenta reaches a creamy and thick consistency. Turn the stove off and stir in the butter. Add salt and pepper to taste and set aside.