Heat oven to 300 degrees.
Season the beef with the salt and pepper. Heat the oil in a Dutch over or ovenproof pot over medium-high heat.
Add some of the beef to the pot and brown on all sides. Transfer to a plate. Repeat with the remaining beef.
Spoon off and discard all but 1 tablespoon of the drippings. Add the wine and cook, stirring and scraping the bottom for 3 minutes.
Return the beef to the pot along with the shallots and broth. Bring to a boil.
Skim any foam. Add the thyme.
Cover and transfer to oven until the beef is tender, about 2 hours. Spoon into individual bowls.
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