- ½ cup lard or vegetable oil
- 1 cup chopped white onion, plus more for garnish
- 8 garlic cloves, roughly chopped
- 2 red bell peppers—stemmed, seeded and diced
- 2 green bell peppers—stemmed, seeded and diced
- 1 vine-ripe tomato, cored and roughly chopped
- 2½ pounds ground beef
- ¾ cup ancho chile powder
- ½ cup cumin
- ¼ cup dried oregano
- ¼ cup paprika
- Kosher salt, to taste
- 1¾ cups beef stock
- 2 tablespoons masa flour
- 2 tablespoons warm water
- Sour cream, for garnish
- Shredded cheddar and Monterey Jack cheese, for garnish
- Crushed tortilla chips, for garnish
- Cilantro leaves, for garnish
- In a large saucepan, heat the lard over medium-high heat. Add the onion, garlic, peppers and tomato, and cook until soft, 6 to 8 minutes.
- Add the ground beef and cook, breaking up the beef with a wooden spoon, until the meat is no longer pink, 5 minutes. Add the ancho chile powder, cumin, oregano, paprika and a large pinch of salt, and cook until fragrant, 2 minutes. Pour in the stock and bring to a simmer. Cook until the liquid has reduced slightly, 30 minutes.
- In a small bowl, mix the masa flour with the water until a paste forms. Stir the paste into the chili and continue to cook until thickened, 15 minutes more. Season with salt.
- Divide the chili among bowls; top with the onions, sour cream, shredded cheese, tortilla chips and cilantro; and serve.