Cut the beef into medium-sized cubes and season generously with salt and pepper. Heat the olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Sear the beef in batches until browned on all sides. Remove the beef from the pot and set aside.
In the same pot, sauté the finely chopped onions and minced garlic until softened and fragrant.
Add the sliced carrots and tomato paste, and cook for 2-3 minutes, stirring constantly. Pour in the white wine and bring to a simmer, scraping up any browned bits from the bottom of the pot.
Return the beef to the pot. Add the beef broth, bay leaves, Hungarian sweet paprika, and ground cumin. Bring to a simmer, then reduce the heat to low, cover, and cook for 1.5-2 hours, or until the beef is very tender.
When the beef is almost tender, add the diced potatoes and cook for another 20-30 minutes, or until the potatoes are cooked through.
Before serving, garnish with fresh parsley. Serve hot with crusty bread or rice.
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