Preheat the oven to 325 degrees and put the oven rack in the middle position.

Put a Dutch oven over medium heat. Add the bacon and cook. Stir occasionally so that they don't burn. Cook until crispy, which will take about 4-5 minutes.

Put the bacon onto a paper-lined plate to soak up the grease.

Drain and eliminate all but one tablespoon of the bacon grease and then add the beef—season with salt and pepper. Stir occasionally until the beef is browned on all sides, taking about 4-5 minutes.

Take out the beef and put it on the same plate as the bacon.

Add the pearl onions, red onions, garlic, and carrots. Cook and stir occasionally until the veggies are fragrant and translucent. This will take about 4-5 minutes.

Add the mushrooms and then sprinkle with almond flour. Cook, and stir frequently. This will take about 1-2 minutes. You are wanting to mixture to thicken.

Put the bacon and the beef back into the Dutch oven, and then add the red wine, beef broth, tomato paste, bay leaves, and fresh thyme. Add more salt and pepper if needed. Stir.

Turn the heat to medium-high and bring to a gentle boil. Stir occasionally. Take the Dutch oven off the heat, cover it, and transfer it into the preheated oven. Cook for 2 1/2 - 3 hours, and stir the mixture every 40-50 minutes.

Remove from the oven, discard the sprigs and leaves. Top with fresh parsley and serve.