1.In a large pot, brown the pieces of beef in batches and set aside.
2.In the same pot, add the chopped onions, carrots, and celery, and sauté until softened.
3.Add thyme, rosemary, bay leaf, and the smoked bacon, and cook for a few minutes.
4.Return the beef to the pot and cover with red wine and water. Bring to a simmer.
5.Add the pearl onions and mushrooms, and let it cook on low heat for about 2-3 hours until the beef is tender.
6.If needed, add more water to cover the meat. Serve with boiled potatoes.