Ingredients

3 tablespoons ancho chili powder or 3 medium pods

(about 1/2 ounce), toasted and ground

3 tablespoons New Mexico chili powder or 3 medium

pods (about 3/4 ounce), toasted and ground

2 tablespoons cumin seeds, toasted in a dry skillet

over medium heat until fragrant, about 4 minutes, and ground

2 teaspoons dried oregano, preferably Mexican

1/2 cup water

1/2 cup red wine

4 pounds beef tenderloin, trimmed of excess fat and

cut into 1-inch cubes

7-9 tablespoons olive oil

2 teaspoons kosher salt, plus extra for seasoning

1 medium onion, minced (about 1 cup)

5 medium garlic cloves, minced

4-5 small jalapeño chili peppers, cored, seeded,

and minced (wear rubber gloves)

1 cup canned crushed tomatoes

2 tablespoons juice from 1 medium lime

6 1/2 cups water

3 tablespoons cornstarch

3 tablespoons balsamic vinegar

Freshly ground black pepper

Preparation

  1. Mix chili powders, cumin, and oregano in small bowl and stir in 1/2 cup water to form thick paste; set aside. Toss beef cubes with salt; set aside.

  2. In a large pot, heat 5 tablespoons of olive oil to medium-high; sauté meat in four batches until well-browned on all sides, about 5 minutes per batch, adding additional 2 teaspoons olive oil as necessary.

  3. Reduce heat to medium, add 3 tablespoons olive oil to now-empty pan. Add onion; sauté until softened, 5 to 6minutes. Add garlic and jalapeño; sauté until fragrant, about 1 minute. Add chili paste; sauté until fragrant, 2 to 3 minutes.

  4. Add the browned beef, crushed tomatoes, lime juice, wine, and 6 1/2 cups water; bring to simmer. Continue to cook at a steady simmer until meat is tender and juices are dark, rich, and starting to thicken, about 2 hours.

  5. Mix the cornstarch with the balsamic vinegar in a small bowl to form smooth paste. Increase heat to medium; stir in paste and simmer until thickened, 5 to 10 minutes. Adjust seasoning generously with kosher salt and freshly ground black pepper. Serve immediately, or preferably, cool slightly, cover, and refrigerate overnight or for up to 5 days. Reheat before serving.