Preheat the oven to 350F.

Heat the olive oil in a heavy bottom dutch oven or pot over medium high heat. Add the bacon and saute for 3-5 minutes till browned. Transfer bacon to a dish and set aside.

Pat the stew beef dry and season with the salt and pepper.

Working in batches, sear the stew meat in the bacon and oil till well browned, set aside.

Add the butter to the dutch oven then saute the carrots, white onion, and mushrooms in the dutch oven for about 5 minutes till they are all starting to brown.

Add the garlic, thyme, rosemary, and bay leaves. Stir and cook for another minute till fragrant.

Add the flour and stir to coat all the vegetables in the flour. Cook the floured vegetable mixture for another minute, stirring constantly to cook off the flour taste.

Add the red wine and beef stock and stir to combine. Add the pearl onions and half the fresh parsley.

Heat the stew mixture over high heat on the stovetop till it boils, stir well, place the lid on the dutch oven and place it in the oven.

Bake in the oven for 2.5 - 3 hours till the meat is super tender.

Remove the beef bourguignon from the oven and add the fresh parsley.

The sauce should be thick enough that it coats the back of a spoon, if the sauce is not thick enough, boil the stew for a while longer with the lid off. If the sauce is too thick thin it with some more beef stock.

Serve over mashed potatoes, rice, or noodles.