Heat the oil in a dutch oven over high heat.

Add the beef and sear on all sides for about 5 minutes.

Reduce the heat to medium, add the onions, garlic, serrano and saute for another 5 minutes.

Add the spices, stir for a minute, then add the red wine and deglaze the pan.

Next, add 4 cups of broth, bring the pot to a boil then reduce to low heat. Cover and cook for 1 hour, checking the pot at the halfway mark. If the broth has reduced too much, add the remaining broth.

Give the contents of the pot a stir, then add the carrots, celery and potatoes to the pot, cover and cook for 30 more minutes.

To thicken the stew, mash some of the potatoes right in the pot and mix well.

Garnish with cilantro if desired.