Source: Gallagher's, midtown Manhattan, New York

Serves 12 to 15

1 cup salted butter
5 pounds ground sirloin
1 pound filet mignon, 1/4-inch dice
2 cups onion, 1/4-inch dice
1 chile pepper, seeds and veins removed, 1/8-inch dice
1/2 cup Guinness Stout
1/4 cup flour
2 cups crushed tomatoes
1/4 cup tomato paste
4 cups beef stock
1 cup cooked black beans
1 cup cooked kidney beans
1/2 cup chili powder
2 tablespoon dark brown sugar
1 tablespoon kosher salt
2 teaspoons ground white pepper
1 teaspoon ground cumin
2 cups shredded Cheddar cheese

Heat 1/2 cup of the butter in a large sauce pot over medium high heat until very hot.

Add diced filet and cook until seared and browned around the edges.

Add ground beef and cook until all of the beef is browned thoroughly

Remove the meat and set aside, draining off 3/4 of the fat (leave the rest of the fat in the pot).

Add the diced onions and chile pepper to the pot and cook until soft, about 3 minutes.

Return the meat to the pot. Add the Guinness and let boil for 1 minute.

Add the flour and stir constantly for 1 minute.

Add the crushed tomatoes, tomato paste and the beef stock and stir thoroughly.

Reduce the heat to a low simmer and add both of the beans, the chile powder, cumin, salt, white pepper and brown sugar. Let the chile simmer for 30 minutes, uncovered, stirring occasionally.

Finish by stirring in 1/2 cup more of the butter and the shredded Cheddar cheese.

Garnish or serve with sour cream, diced red onions and pepper, shredded Cheddar cheese, diced tomatoes, fresh chopped cilantro.