Heat oven to 325°F

Pat the beef dry with paper towels, season with salt & pepper; set aside.

In a small bowl, combine the flour, salt and pepper; set aside.

Add the bacon to a Dutch oven set over medium heat. Cook until the fat has rendered and use a slotted spoon to transfer the bacon pieces to a paper towel-lined plate.

Add 1-tablespoon canola oil to the pot and wait 30 seconds to allow the oil to heat. Add about 1/3rd beef cubes to the pot, turning as needed, to sear all sides. Repeat with remaining beef searing 1/3rd of the beef at-a-time. Transfer the beef to the same plate with the bacon.

Add the carrots and chopped onions to the Dutch oven. Sprinkle with 1-teaspoon kosher salt and ½ teaspoon freshly ground black pepper. Cook 8-12 minutes or until the vegetables have lightly browned. Add half the minced garlic and cook another 30 seconds.

Add the beef and bacon back to the pot with the vegetables and mix. Sprinkle flour over the meat/vegetable mixture and cook, stirring often, for 5 minutes.

Add the wine slowly while deglazing (scraping the flavorful bits) the pan. Add the cognac and enough beef broth to almost cover the meat.

Add the tomato paste, thyme leaves and bay leaf and stir. Bring back to a simmer, cover the pot with a tight-fitting lid and place it in the oven.

Cook the beef 2-3 hours, stirring occasionally, until the meat is fork-tender.

While the beef cooks, prepare the onions & mushrooms. Heat 2 tablespoons butter in a medium saucepan over medium-low heat. Add the thawed pearl onions and season with kosher salt and freshly ground black pepper. Cook until the onions are lightly browned on all sides, 8-10 minutes. Add the remaining 2 tablespoons butter, sliced cremini mushrooms and the remaining minced garlic to the pan. Cook until golden brown, about 6-8 minutes. Season to taste with kosher salt and freshly ground black pepper, if needed. Set aside until beef is ready.

When the beef is cooked through and tender, transfer the stew from the oven to the stovetop. Remove the lid and set the burner to medium heat. Add the pearl onion/mushroom mixture and bring the stew to a boil (stovetop). Reduce the temperature to low and simmer 15 minutes. Remove the stew from the heat and let sit another 15 minutes.

Discard the bay leaf and rosemary sprig.

Season the stew to taste, and serve over mashed potatoes or egg noodles.

Enjoy!