Marinate the meat with salt, pepper, dried oregano, and a drizzle of olive oil. You can marinate for just 20 minutes at room temperature or leave it in the fridge overnight.
Heat a good splash of olive oil in a medium-sized cooking pot over high heat.
Sear and brown the meat on all sides. Toss in the allspice to toast a bit as well. Remove the meat from the pot and set aside, covered, to keep warm.
Saute the onion and garlic in the same pot over medium-low heat.
Stir in the tomato paste and cook for a minute to caramelize.
Return the meat to the pot and pour in the wine. Deglaze the pot with a wooden spoon. Simmer for a few minutes until it stops smelling of alcohol.
Add the bay leaves, 1 liter (4 cups) hot water or stock (or enough to cover the meat), and season with salt and pepper.
Simmer over low heat, covered, for about an hour. At this point, the meat should feel tender enough when you prick it with a knife.
Cut the potatoes into cubes about the same size as the meat. Cut the peppers into small squares, a bit smaller in size than the meat and the potatoes.
Add the potatoes and peppers to the pot.
Simmer until the potatoes are tender and the sauce thickened. If necessary, raise the heat towards the end and open the lid on the side to help the sauce thicken.
Rest the food in the pot ideally for 15-20 minutes or even better up to 30 minutes. This gives time for the potatoes to fully absorb the sauce as they sit.