Peel onions, cut them in half, then cut into ⅓ inch slices.
In a large pan, sauté onions on 2 tbsp vegetable oil for 6-8 minutes over medium high heat, until golden brown. Transfer onions into dutch oven.
Prepare your beef. Remove silver skin, connective tissues and fat. Cut in ⅓-½ inch slices. Season liberally with salt and freshly ground black pepper.
In the same pan that you used for the onions, sear your meat slices over high heat for 2 minutes on both sides. Use 1 - 1½ tbsp oil for each batch. Once your meat is browned, transfer it to the dutch oven.
Deglaze pan with chicken broth, then pour it over your meat (simply add broth and mix for 1 minute over medium heat to dissolve scrapings).
Cover your dutch oven and cook for 3 hours in the oven. Check after 2 hours, add water if necessary.