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In a large pot, heat the oil over medium-high heat. Stir in the onion and garlic, let sizzle for a moment, then lower the heat to medium-low and cook, stirring occasionally, until translucent and softened, 10 to 15 minutes. Stir in the cumin and smoked paprika and cook for 1 minute. Add the bay leaf, chiles, tomatoes, chicken stock, and 1 teaspoon salt and bring to a boil. Lower the heat and simmer for 30 minutes.
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Meanwhile, fill a small, heavy-bottomed saucepan with 2 inches of vegetable oil and heat over medium-high heat to 365oF or until bubbles form and begin to float up around the handle of a wooden spoon when dipped into the oil. Working in batches, fry the tortilla strips until crisp, 2 to 3 minutes. Drain on paper towels and season to taste with salt.
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Using an immersion blender or in batches in a blender, carefully puree the hot soup until smooth. Season to taste with salt and cayenne pepper. Transfer the soup to bowls, garnish with a spoonful of sour cream and avocado, a sprinkle of marjoram, and a handful of tortilla strips.