Heat olive oil in a large heavy-bottomed pot over medium heat. Add pancetta and cook until it renders fat and begins to brown, 4–5 minutes.

Add finely chopped celery, carrot, and onion (soffritto) and cook, stirring occasionally, until softened and translucent, about 8–10 minutes.

Stir in minced garlic and ground nutmeg and cook 1 minute until fragrant.

Increase heat to medium-high, add ground beef and ground pork, and brown the meat, breaking it up with a spoon, until no pink remains and liquid has mostly evaporated, about 8–10 minutes.

Pour in the dry white wine and scrape up any browned bits from the bottom of the pot. Let the wine reduce by about half, 2–3 minutes.

Stir in the tomato paste, mixing well to coat the meat, then add the beef stock. Bring to a gentle simmer.

Reduce heat to low and simmer gently, partially covered, for 1.5–2 hours, stirring occasionally. If the sauce reduces too much, add a splash of stock or water.

Stir in the cream, adjust salt and pepper to taste, and simmer 5 more minutes. Serve hot with your choice of pasta, polenta, or crusty bread.