Pat dry beef cubes with a paper towel to ensure even browning and preheat the oven to 450 F. 

Cut bacon into 1 inch pieces. Add bacon to a large 7-quart oven proof casserole / dutch oven. Cook over medium heat until the bacon has cooked through and the fat has rendered off. Remove the bacon and set aside in a large bowl. Remove most of the bacon grease, until there is about 1 tbsp of so left. 

Add in the olive oil and beef chunks in 2-3 increments, sauteeing for 1-2 minutes on each side until crusted and golden brown. Be careful not to overcrowd the casserole dish. Add browned beef to the bacon once browned and set aside. 

Once all the beef has browned, add onions, carrots, kosher salt and a few turns of cracked black pepper to the pan. Sautee for 4-5 minutes. 

Return the beef and the bacon to the casserole dish and season generously with more kosher salt and cracked black pepper. Sprinkle beef and vegetables with the flour and toss together. Place into the oven, uncovered for 4 minutes. Toss the beef once more and return to the oven for another 4 minutes. Remove the casserole dish from the oven and turn heat down to 325 F. 

Add in the wine, and enough beef stock until the meat is just barely covered. With a small piece of kitchen twine, tie herbs together into a small bundle. Add the tomato paste, garlic and herb bundle to the pot. Return the mixture to medium-high heat until the liquid is simmering.

Place the lid onto the casserole dish and place into the oven. Slowly simmer for 3-4 hours, the meet is finished when it is extremely fork tender. The last half hour or so of cooking add in the pearl onions. Taste test once more for salt and pepper. 

During the last hour of cook time, prepare the mushrooms. Add butter to a medium skillet and heat on medium heat until melted. Add in the mushrooms and cook for 8-10 minutes or until golden brown. 

Once the beef has finished cooking, strain the liquid from the pan in a colander. Heat the liquid on medium-high heat, skim the fat off the top. Whisk continuously until the sauce has thickened slightly. Serve the beef over a bed of egg noodles or mashed potatoes with a few ladles of sauce. Garnish with fresh Italian parsley.