In large Dutch oven, melt 1 tablespoon butter with 1 tablespoon oil over medium-low heat. Add onions; cook, stirring occasionally, until golden and very tender, about 15 minutes. Transfer to a bowl.
In same pan, melt 1 tablespoon butter with 1 tablespoon oil over medium heat. Coat beef cubes in flour, shaking off excess. Add half of beef cubes to pan; cook, turning, until beef is browned on all sides, 8 to 10 minutes. Transfer beef to bowl with onions. Brown remaining half of beef in remaining butter and oil. Transfer to bowl. Add wine to pan; cook, scraping up any browned bits from bottom of pan, for 1 minute.
Return meat and onions to pan. Add salt, pepper, cinnamon, cloves, nutmeg and broth. Bring to a simmer; cover pan. Cook, stirring occasionally, for 2-1/2 hours or until the meat is very tender when pierced with fork. If liquid becomes too thick, add a little water.
Sprinkle stew with chopped parsley, if desired. Serve hot with polenta or mashed potatoes.