Instructions:
Place bacon in a large Dutch oven or heavy oven-safe pot and cook until crispy. Place bacon in a paper towel-lined bowl and set aside.
Add the stewed meat little by little and brown well on both sides. Transfer to a plate and repeat with remaining beef. If desired, add a little olive oil between servings. I made 3 batches, but it depends on the size of your pot.
Return all beef to pot. Then add chopped onions, carrots, pearl onions and garlic, season with a little salt and pepper. Cook until onions are soft and translucent, about 3 to 5 minutes.
Add the mushrooms and stir, then sprinkle the flour on top. Stir and cook for another 2 minutes.
Then add the cooked bacon back to the pot along with the tomato paste, bay leaf, and thyme. Then pour in red wine and beef broth. Bring to a boil.
While the stew is boiling, preheat the oven to 325°F. Cover the pot and place in the oven and cook for 2 1/2 hours, stirring every hour. I like to remove the lid 30 minutes before the end of cooking.
Enjoy over boiled pasta or creamy mashed potatoes.