Pat your stew meat dry and season generously with salt and pepper. Set aside while you preheat a Dutch oven over medium-high heat.
Once the Dutch oven is ripping hot and your hood fan on, add the bacon grease or lard. It will smoke. Immediately add HALF the seasoned stew meat. Sear on two sides until browned (about 1-2 minutes per side). Remove the seared meat to a clean plate and repeat with the remaining beef.
Reduce the heat to medium-low and add in the onions. Stir often for the first 30 seconds to help the fond lift from the bottom of the pot (the brown bits). This is flavour! Continue cooking, stirring occasionally until the onions are soft and translucent (about 5 minutes).
Add in the peppers and garlic. Continue cooking, stirring occasionally, for another 4 minutes.
Stir in the chopped tomato and tomato paste. Stir well to combine and cook for 1 minute until the tomato paste darkens and the entire mixture begins to lightly "stick" to the bottom.
Add the paprika, marjoram, and caraway seeds. Stir well to incorporate and let the spices warm and toast for 30 seconds.
Return the beef and all of its juices to the pot. Stir in the broth and wine along with the bay leaf and salt. Bring the stew up to a gentle simmer before reducing the heat to the lowest setting. Cover and cook for 1 ½ hours or until the meat is tender.
Serve over spätzle, wide egg noodles, or boiled potatoes. Try serving it with a quick cucumber salad or a dollop of sour cream. Enjoy!