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Step 1
Heat the oil in a 5-quart cast iron Dutch oven over medium high heat. Season the beef with the salt and pepper then arrange the beef in a single layer in the pot a few pieces at a time. Cook, flipping each piece until the beef is browned on all sides, about 5 minutes per batch.
Step 2
Remove the beef from the pot and add in the vinegar and red wine to deglaze the pan and scrapping up any brown bits from the bottom. Add the beef, broth, butter, and bay leaves. Bring to a boil then reduce to a simmer. Cover and cook for 1 hour.
Step 3
Uncover, and add in the onions, carrots, and turnips and simmer, covered, for 40 minutes. Add additional broth if the stew is dry. Season with salt and pepper to taste.