Step 1

Preheat the oven to 300°. In a large, heavy ovenproof saucepan, heat 1 tablespoon of the olive oil. Season the meat with salt and pepper and cook over high heat until browned, about 2 minutes per side. Transfer the beef to a plate and wipe out the saucepan. Add 2 cups of the beef stock and the Madeira to the saucepan and bring to a simmer. Return the meat to the saucepan, cover and braise in the oven for 2 to 2 1/2 hours, turning occasionally, until tender.

Step 2

Heat a large enameled cast-iron casserole or soup pot over high heat. Add the wild rice and cook, stirring, until it begins to pop, about 2 minutes. Add the onion, carrots and the remaining 2 tablespoons of olive oil and cook, stirring, for 2 minutes. Add the remaining 8 cups of stock and bring to a simmer. Reduce the heat to moderate, cover, and cook until the rice is tender, about 50 minutes.

Step 3

Remove the meat from the braising liquid and let cool slightly, then shred it. Add the shredded meat and its braising liquid to the casserole and season with salt and pepper. Simmer the stew for 5 minutes, then ladle into bowls and serve.