Combine chicken, pork, veal, beef, lamb, and water in a large stock pot; bring to a boil. Reduce heat; cover and simmer 2 hours or until meat is tender.
Remove meat from broth; cool slightly. Remove meat from bones, discarding bones. Coarsely chop meat, and set aside.
Skim off and discard fat from surface of broth. Combine broth, meat, and remaining ingredients in stock pot. Bring to a boil. Reduce heat; simmer, uncovered, 4 1/2 hours or until thickened, stirring occasionally. Discard pepper pods.
Ladle stew into individual serving bowls; serve hot.