1 (28-ounce) can diced tomatoes, drained
2 pounds beef stew meat, cut into 1-inch cubes
1/4 cup butter or margarine
3 medium onions, chopped
2 pounds potatoes, peeled and cut into 1-inch chunks
1 bunch small fresh cilantro, cleaned and chopped (leaves only)
1 cup water
2 bay leaves
1 teaspoon salt
1/4 teaspoon ground black pepper
1 cup fresh chopped basil

1. Purée diced tomatoes and set aside.
2. Place beef in a stockpot and cook, covered, over low heat until it begins to sweat. Without adding any liquid, braise the meat for about 10 minutes, stirring once.
3. Uncover the pan and turn the heat to high. Cook for another 10 minutes, or until the liquid evaporates.
4. Add the butter and cook the meat over medium-high heat for an additional 10 minutes, stirring occasionally, until it browns.
5. Add the onions and potatoes. Cook for 5 more minutes.
6. Add reserved puréed tomatoes to the pan along with cilantro, water, bay leaves, salt and pepper. Simmer over low heat, covered, for 1 hour.
7. Remove cover, stir in basil and simmer 10 more minutes. Serve hot.

Makes 8 servings.