In a Dutch oven, heat oil over medium-high heat until it begins to sizzle.

Add the meat and brown on all sides.

Once browned, carefully remove the meat with a spatula or a slotted spoon and set it aside.

Put onions and garlic in the Dutch oven and cook until lightly browned.

Return the meat to the Dutch oven.

Add tomato paste, beef broth, water, vinegar, salt, pepper, cinnamon, and bay leaf.

Mix well.

Cover the Dutch oven and turn the heat to low.

Simmer the stew for about 3 to 4 hours, or until the meat is very tender.

Stir every 15 minutes to prevent the meat from sticking to the Dutch oven.

The sauce will become very thick, almost like jam.

Remove the bay leaf and serve.