In a large pot, melt the butter and add the vermicelli pasta until it is golden brown. Vermicelli pasta goes very quickly from golden brown to being burnt. .
Add the rice, and stir it so that it toasts for a few moments (about 30 seconds).
Then add the water, salt and pepper. Bring to a boil and let the water boil until there is little to no water left.
Reduce heat to the lowest and cover.
Cook for about 5-7 minutes.
Remove from heat, and run a fork through the rice to fluff it up.
Garnish with pine nuts and slivered pistachios before serving.