Step 1: Heat butter in a Dutch oven or a large pot. Saute onions until just golden, turning often. Add mushrooms and cook 5 minutes, stirring occasionally. Remove onions and mushrooms and set aside.
Step 2: Dredge beef cubes in a mixture of flour, salt and pepper. Heat oil in pan and brown beef on all sides, a few at a time. Remove from the pan as they brown.
Step 3: Pour off fat and add stock, 1/3 cup rum and sherry to pot. Stir over low heat to loosen browned bits in pan. Add carrots, garlic, herbs and browned beef. Cover and simmer over low heat, stirring occasionally. Add a little more stock if necessary.
Step 4: After 1 1/2 hours, uncover pan and add sauteed onions, mushrooms and remaining rum. Cover and simmer 1/2 hour longer or until beef and onions are tender.
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