Pat the beef cubes dry with paper towels and season them generously on all sides with salt and black pepper.

Heat the olive oil in a large Dutch oven over medium-high heat, then sear the beef in batches until deeply browned on all sides, about 5 to 8 minutes per batch, before transferring to a plate.

Reduce the heat to medium, add the finely chopped onions to the same pot, and cook for 10 to 12 minutes while stirring occasionally until they are soft, sweet, and lightly caramelized.

Stir in the minced garlic, sweet Hungarian paprika, and tomato paste, cooking for about 1 minute until the mixture becomes highly fragrant and the spices are toasted.

Pour in the dry red wine to deglaze the pot, scraping up any flavorful browned bits stuck to the bottom, and simmer until the liquid reduces by half, about 5 minutes.

Return the beef and any accumulated juices to the pot, pour in the beef broth, and add the bay leaves and dried marjoram before bringing the mixture to a gentle boil.

Cover the pot, reduce the heat to low, and simmer gently for 1.5 to 2 hours, or until the beef is incredibly tender and the sauce has naturally thickened into a rich, velvety gravy.

Remove and discard the bay leaves, adjust the seasoning with additional salt and pepper to taste, and serve hot over a warm bed of creamy polenta or buttered egg noodles.