How to Make It
In a heavy medium saucepan, melt the butter over moderate heat. Add the almonds and cook until lightly colored, about 5 minutes. Using a slotted spoon, transfer the almonds to a plate. Add the Cream of Wheat to the saucepan and cook, stirring constantly, until lightly browned, about 10 minutes.
In a second medium saucepan, combine the milk, water and granulated sugar. Cook over moderate heat until bubbles appear around the edge, stirring to dissolve the sugar. Gradually add the hot milk mixture to the Cream of Wheat and whisk over low heat until smooth and thick, about 5 minutes. Remove from the heat and stir in the almonds. Cover with a towel and let stand for 20 minutes.
Spoon the mixture into a 9 1/2-inch ring mold and smooth the surface. Let stand until cool. Cover and refrigerate until cold. To serve, invert the halvah onto a large platter. Sift the confectioners' sugar and cinnamon over the top and serve.