Cream butter and powdered sugar until light and fluffy. Mix in egg and vanilla.

Stir in flour, chopped nuts, and candied cherries until just combined.

Roll dough into two logs, wrap in plastic wrap, and chill for 1 hour.

Preheat oven to 325°F. Slice dough into 1/4-inch rounds and place on a baking sheet.

Bake for 13-15 minutes, until edges are lightly golden.

Cool on baking sheet for a few minutes, then transfer to a wire rack.