In a large sauté or fry pan heat about 4 tablespoons of olive oil over a medium high heat. Add meat in small batches and brown on all sides. Do not crowd meat or it will braise and not brown. As it browns, remove pieces to a large casserole or Dutch oven. Continue until all the meat is browned, adding more oil if necessary.
When all meat is browned, add chopped carrots and sauté carrots for a couple of minutes until lightly browned. Add to casserole.
Deglaze pan by adding about 1 cup of red wine to pan and stir to remove browned bits from bottom of pan. Pour into casserole.
Add the rest of the wine, bay leaf, sprig of thyme and 2 teaspoons of kosher salt to the Dutch oven or casserole and stir. Bring to a boil then reduce heat to low and simmer for 2 1/2 hours until meat is tender.
Wash and quarter mushrooms, peel pearl or boiling onions. In a large pan heat 2-3 tablespoons of butter and 2 tablespoons of olive oil. Saute mushrooms and onions, browning, then add to stew. Continue cooking for an additional 1/2 hour until vegetables and meat are tender.
Finishing the stew. Separate the stew from the liquid. Return the liquid to a boil over a medium-high heat. Whisk in Beurre Manie, to thicken liquid, adding more if necessary to achieve desired consistency.
Return stew to pan, check for seasoning with salt and black pepper.