Set a large 6-8 quart sauce pot over medium heat. Add the oil, chopped onions, and garlic. Sauté for 2-3 minutes to soften. Stir in the paprika and beef chunks. Brown the meat for 5 minutes, stirring to make sure not to burn the paprika.
Add in the bell peppers, carrots, bay leaves, caraway seeds, tomatoes, broth, and 1 teaspoon salt. Stir well. Cover. Then simmer for 60 minutes, stirring occasionally.
Mix in the chopped potatoes. Cover and simmer again for 30 minutes, or until the potatoes are fork-tender.
Then stir in the parsley. Taste, and salt and pepper as needed. Serve warm.
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Notes
If you don't have Hungarian paprika, feel free to substitute for another smoky or sweet paprika that's available. Just be sure not to use spicy hot paprika!