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PdfPreheat the oven to 350°F (175°C) and cook the bacon in a Dutch oven until crisp. Set the bacon aside, reserving the fat in the pot.
Sauté the sliced mushrooms in the bacon fat until browned, then remove them from the pot.
Sear the dried and seasoned beef chuck pieces in batches in the Dutch oven with vegetable oil until well-browned on two sides. Remove the beef and spoon off excess fat.
Add butter, garlic, and tomato paste to the pot. Stir in flour and smoked paprika and cook for one minute.
Pour in bourbon (if using) and carefully ignite it. Whisk in the red wine and beef broth, scraping the bottom of the pot, and bring to a simmer.
Return the beef and bacon to the pot, add bay leaves, parsley, and thyme sprigs. Cover and transfer to the preheated oven.
Braise for 2 to 2.5 hours until the beef is very tender.
Add carrots and pearl onions (and reserved mushrooms if kept separate) about 30 minutes before the end of cooking. Cover and return to the oven until the beef is fall-apart tender and vegetables are soft.
Remove herbs, adjust seasoning, garnish with chopped parsley, and serve hot over mashed potatoes or egg noodles.