• Season the beef cubes with salt and pepper, then dredge in flour.
• In a Dutch oven or large pot, cook the bacon over medium heat until crispy.
• Remove bacon and set aside, leaving the rendered fat in the pot.
• Sear the beef cubes in batches until browned on all sides.
• Remove and set aside.
• Add the onion, carrots, and celery to the pot and cook until softened, about 5-7 minutes.
• Add the garlic and mushrooms and cook for another 3-5 minutes.
• Pour in the red wine, beef broth, tomato paste, thyme, and bay leaf.
• Return the beef and bacon to the pot.
• Bring to a simmer, then reduce heat, cover, and simmer for 2.
• 5-3 hours, or until the beef is tender.

Optional: In a separate pan, melt butter and add pearl onions, cook until browned.

• Add to stew during the last half hour of cooking.
• Remove the bay leaf.
• Thicken sauce if desired.
• Serve hot.