fold the leaves over the stem (lengthwise) and cut out the stem
chop the stems into very small cubes and the shallot into thin slices
cut the leaves into strips
set a pot of water to boil and start heating the olive oil in a skillet
when the olive oil is hot, add the sliced shallot and chopped stems and turn down the heat, let them cook but not brown.
add the chard strips to the boiling water - chard is firmer than spinach so it can take more heat without getting unbearably soggy, but i would't leave them in more than 6 minutes. take out of the water, rinse under cold water and squeeze to get as much water out as possible. put on serving platter.
watch the stem and shallot in the skillet, stir and make sure they are not sticking and turn off the heat when the stems start becoming translucent.
add the splash of balsamic to the hot skillet and let the heat of the pan caramelize.
sprinkle the stems and shallots and all the remaining pan liquids over the chard leaves.