4 cups good quality, French Burgundy wine
1/3 cup extra-virgin olive oil (EVOO), divided
8 slices lean bacon, chopped
1 cup flour
Salt and freshly ground black pepper
1 1/2 pounds white mushrooms, halved
2 fresh bay leaves
4 large carrots, peeled and cut into 1 inch chunks
4 ribs celery, sliced
4 large garlic cloves, chopped
4 cups beef broth
2 10-ounce boxes frozen pearl onions
1/2 cup parsley, chopped
4 cups beef broth
Preheat oven to 325F (you can also make it on the stovetop).
Combine the beef and the wine in a re-sealable plastic bag or in a container with a lid. Marinate the beef in the wine for 3-8 hours, giving the beef a stir every now and then so it marinates evenly. Strain the beef from the wine, reserving the wine, and pat the beef dry.
Heat a large Dutch oven over medium-high heat with 2 tablespoons of EVOO. Add the bacon and cook until all the fat has rendered out and it is crispy. Remove with a slotted spoon to a paper towel-lined plate and reserve.
Scatter the flour out onto a plate and season it with salt and pepper. Coat the beef in the flour and make sure to shake off any excess. Add the beef in batches to the remaining fat in the pan, adding more EVOO as necessary. Once the beef is brown on all sides, remove and reserve. Add the mushrooms and bay leaves, and cook until golden brown, about 8-10 minutes. Add the carrots, celery and garlic, and cook for another 4-5 minutes. Season with salt and freshly ground black pepper. Deglaze the pan with the reserved wine from marinating the beef, scraping up all the browned bits. Add the beef stock, bring to a boil and cook for 5 minutes. Add the browned beef back to the pan with the pearl onions and bring the pot up to a simmer. Pop it in the oven for 1 1/22 hours. If cooking on the stovetop, turn the heat down to medium, cover with a lid and simmer for about 1 hour, then remove the lid and continue to simmer for another 1/2 hour.
To check and see if the beef is tender, poke a piece with a fork -- the beef should easily pull apart. If the sauce is not thick enough for your liking, turn the heat up to high and reduce the liquid until it reaches desired consistency. Fish out and discard the bay leaves, then taste and re-adjust seasonings. Pour into a serving bowl and garnish with the crispy bacon and chopped parsley. Serve Rice Pilaf With Smoked Almonds alongside.