Cut the boneless beef stew meat into 2-inch cubes
Place the meat in a large bowl and add 2 cups dry red wine, 1/2 cup olive oil, 1 chopped onion, 1 chopped garlic clove, 1 chopped carrot, 1 bay leaf, 2 tablespoons chopped parsley, 1 teaspoon chopped fresh or 1/2 teaspoon dried thyme, 1 teaspoon cracked black pepercorns, and 1 1/2 teaspoon salt
Stir to combine and coat meat. Cover and marinate in the refrigerator for at least 1 hour, or up to 24 hours, turning meat occasionally.
Strain marinade and reserve liquid and vegetables separately.
Heat a large Dutch oven over medium-high heat. Add and brown the 4 ounces of diced bacon.
Remove bacon, leaving fat in the pan. You should have 2 tablespoons. If not, add vegetable oil as needed. Return pot to medium-high heat. Add beef in batches and brown on all sides, being careful not to overcrowd pot. Remove with a slotted spoon. Add reserved vegetables and cook until lightly browned, about 5 minutes.
Stir in: 2 tablespoons of all-purpose flour. Cook, stirring, until beginning to brown, about 1 minute. Stir in marinade, then return beef and bacon to pot.
Add 2 cups of small boiling onions, peeled. Bring to a boil. Reduce heat to low and cook, covered, until the meat is fork-tender, 1 to 11 hours. Add 2 cups of mushrooms, quartered.
Cover and cook until tender, about 20 minutes. Skim off fat from the surface.