Step 1

Pre heat oven to 325˚F. Cut bacon in half, lengthwise. Then cut into thin 1/4 inch slices.

Step 2

In a large Dutch oven or stock pot (see notes in post), cook bacon over medium heat until crisp. Remove bacon with a slotted spoon and set aside. Remove all but two tablespoons of the bacon fat.

Step 3

While bacon is cooking, place beef in a large bowl. Sprinkle with salt and pepper and stir to coat.

Step 4

After bacon has been removed, increase heat to high and wait a minute till fat is hot, but not smoking. Add half of the beef and cook until browned on all sides. Scoot the uncooked half of the beef over to one side of the bowl. When first batch is browned, transfer it back to the empty side of the bowl. Add second half of beef to the pan and brown. Once browned, return beef from bowl (first batch) to the pot, reduce heat to medium high and cook, uncovered till most of the liquid has evaporated. Add onions and cook for 3 minutes, then add garlic and cook for another minute.

Step 5

Add red wine, about 1/2 cup at a time and cook after each addition until most of the wine had evaporated. You want the pan to almost seem dry before adding more wine. Continue adding wine and cooking down until all the wine has been added and reduced. Stir occasionally while reducing wine.

Step 6

Add tomato paste and flour and stir well. Cook for 2 more minutes, stirring frequently.

Step 7

Add beef broth, reserved bacon, carrots, bay leaves, rosemary sprig and thyme leaves. Stir well, then bring to a boil. Cover pot and place in oven and cook for 2 hours.

Step 8

Remove from oven and add mushrooms. Stir gently to combine. Return to oven for another half hour. At this point, remove from oven and check the beef. It should be very tender. If it's still a bit tough, return to oven and check, every 15 minutes, until tender.

Step 9

Remove from oven and add pearl onions. Simmer, uncovered on stovetop over medium heat for 10 minutes.

Step 10

To finish, remove bay leaves and rosemary sprig. Add frozen peas, cover and turn off heat. Allow to sit for 5 minutes. If making ahead, don't add peas until just before serving. To serve, warm over medium heat until hot, then add peas, cover and allow to sit for 5 minutes.

Step 11

Serve with mashed potatoes.