I personally guarantee this recipe is worth the trouble. And lo!, it'll fit right in your diet. I may have to go get some Prather Ranch beef this weekend and make a batch.
1/2C rendered beef fat or olive oil
2 large yellow onions, peeled and coarsely chopped (about 4C)
8 medium garlic cloves, peeled & minced
4 lbs well-marbled beef chuck, trimmed of most external fat and cut into 1/2-inch cubes
1-2T olive oil
1/3C mild, unseasoned chili powder (ground chilies, not a "chili mix")
2t ground cumin, from toasted seeds (toss dry seeds in a hot pan until fragrant; grind)
2t dried oregano, preferably mexican
1.5t cayenne pepper, or to taste
5C beef stock, prepared w/o salt, or 4C canned beef broth diluted w/ 1C water
2-3T yellow cornmeal (optional) as thickener
1. In a large skillet over medium heat, warm the beef fat. Add the onions & garlic, lower the heat slightly, and cook, stirring once or twice, until very tender, about 20 minutes.
2. Meanwhile, set a 4.5-5 qt. heavy flameproof casserole or dutch oven over medium heat. Add the beef, season with salt and cook, uncovered, stirring often, until the meat has lost all pink color, about 20 minutes. (If the beef is very lean it may stick slightly. Add the olive oil.)
3. Scrape the onions and garlic into the casserole with the beef. Stir in the chili powder, cumin, oregano, cayenne petter and cook, stirring, for 5 minutes. Stir in the beef stock and bring to a boil. Lower the heat and simmer, uncovered, stirring occasionally, for 1.5 hours.
4. Taste, correct the seasonnig, and add water if the chili is thickening too rapidly. Continue to simmer, stirring often, for another 30 minutes or until the meat is tender ans the chili is reduced to your liking.
5. To further thicken the chili, or to bind any surface fats, stir in the optional cornmeal and simmer the chili for another 5 minutes.