Step 1: Marinate the Beef

• In a large bowl or container, combine the beef cubes, red wine, garlic, onion, carrots, thyme, bay leaves, salt, and pepper.
• Cover and let it marinate in the refrigerator for at least 4 hours, preferably overnight. This process enhances the flavor and tenderness of the beef.

Step 2: Sear the Beef

• Remove the beef from the marinade and pat it dry with paper towels. Strain the marinade and reserve the liquid separately.
• In a large Dutch oven, heat 1 tablespoon of olive oil over medium-high heat.
• Sear the beef cubes in batches, browning them on all sides. Remove and set aside.

Step 3: Cook the Aromatics

• In the same pot, add the chopped bacon and cook until crispy. Remove and set aside.
• Add the pearl onions and mushrooms, sautéing until browned. Remove and set aside.

Step 4: Create the Base Sauce

• Melt 3 tablespoons butter in the pot. Stir in flour and cook for 1 minute, forming a roux.
• Gradually add the reserved marinade, whisking to avoid lumps.
• Stir in beef broth, tomato paste, and Worcestershire sauce, bringing to a simmer.

Step 5: Braise the Beef

• Return the seared beef cubes and bacon to the pot.
• Reduce heat to low, cover, and simmer for 2 ½ to 3 hours, stirring occasionally.

Step 6: Final Touches

• Add the reserved pearl onions and mushrooms during the last 30 minutes of cooking.
• Taste and adjust seasoning as needed.

Step 7: Serve and Enjoy

• Remove bay leaves and thyme sprigs.
• Garnish with chopped parsley and serve warm.