Preheat oven to 350°F. Pat beef dry with paper towels, season with salt and pepper.
In a heavy Dutch oven, cook bacon until crisp. Remove bacon and set aside.
Brown the beef in batches in the bacon fat and olive oil. Remove and set aside.
Add carrots and onion, sauté until lightly browned. Sprinkle with flour and stir.
Return beef and bacon to pot. Add wine, beef stock, tomato paste, garlic, and bouquet garni.
Bring to simmer, cover, and place in oven for about 2.5 hours until beef is very tender.
Meanwhile, sauté pearl onions and mushrooms in butter until golden.
Add onions and mushrooms to stew during last 30 minutes of cooking.
Remove bouquet garni, adjust seasoning, and garnish with parsley before serving.