Preheat your oven to 325°F (160°C). Season beef with salt and black pepper.

In a Dutch oven, heat oil, brown beef in batches for 5-7 minutes, then set aside.

Cook diced bacon until crispy for about 4-5 minutes, then remove excess fat.

Sauté chopped onion and carrots for 5 minutes, then add garlic and tomato paste.

Sprinkle flour over the vegetables, stirring for 2 minutes to remove raw taste.

Pour in red wine, scraping browned bits, then add beef, bacon, and broth; tuck in bouquet garni.

Simmer, cover, and cook in the oven for 2.5 to 3 hours until beef is tender.

Boil pearl onions for 2 minutes, sauté in butter, and also sauté mushrooms until golden.

Stir sautéed onions and mushrooms into the stew, simmer uncovered for an additional 10-15 minutes.