Preheat the oven to 325 degrees.

Heat the olive oil in a large, oven-safe pot or Dutch oven. Something with a heavy bottom and lid works well. Cook the bacon in the oil until crispy, about 5 minutes. When done, use a slotted spoon to remove the bacon to a paper towel-lined plate.

Pat the beef dry with some paper towels, as this will help it brown. Use tongs to carefully place the beef in the hot oil, a few pieces at a time, to brown on each side. Just be careful not to crowd the meat or it won’t brown. Remove the beef from the pot and add to the plate with the bacon, then repeat with the remaining pieces of beef.

Now cook the onion and carrot in the same oil for 5 minutes, stirring occasionally. Add the mushrooms, pearl onions, and garlic to the pot with the salt and pepper and cook another few minutes until everything is golden brown. Return the beef and bacon to the pot, sprinkle with the flour and toss to coat. Cook a couple more minutes over medium-high heat.

Stir in the wine, broth, tomato paste, rosemary, and bay leaves. Start with two cups of the broth and add more only if needed to keep the beef submerged. Put the cover on the pot and place it in the bottom half of the hot oven. Allow to cook, covered, for about two and a half hours or until the meat is tender to your liking. You can check on it occasionally to give everything a stir and make sure the stew is cooking at a low simmer. If it's not simmering, increase the heat on your oven up another 25 degrees.

When the stew is done cooking, taste and add more salt, if needed. Remove the parsley leaves from the stems, chop them up and sprinkle over the stew. Take out the bay leaves. Serve over noodles, rice, or mashed potatoes.