In a Dutch oven, heat olive oil over medium-high heat. Add beef chunks and sear until browned on all sides.

Remove beef and set aside. In the same pot, add chopped onion and garlic, sauté until softened.

In a blender, combine guajillo and ancho chiles with 1 cup of beef broth. Blend until smooth.

Add the blended mixture to the pot with onions and garlic. Stir in remaining broth, water, cumin, oregano, black pepper, salt, and bay leaves.

Return the beef to the pot, bring to a boil, then reduce heat to low. Cover and simmer for 3-4 hours until the meat is tender.

Once the meat is tender, remove it from the pot and shred it with two forks.

Warm the corn tortillas in a skillet or on a griddle. Fill each tortilla with shredded beef, and top with chopped cilantro and diced onion.

Serve with lime wedges and the broth for dipping.