Preheat the oven to 325 degrees.
Season meat with salt and pepper.
Sprinkle the meat with flour and toss to coat. This will help the meat brown and the flour will serve as a thickening agent in the stew.
Add olive oil to the bottom of a dutch oven or heavy bottomed soup pot. Over medium heat, brown the meat in two batches, a couple of minutes on each side. Add a bit more olive oil for the second batch if needed. Note: Don't rush this step. The browning adds a depth of flavor that you cannot replicate. Be careful not to over crowd the pan or the meat will steam rather than brown. Once the meat is browned, remove it from the pot and set aside.
Add the onions, garlic and celery to the same pot, and use a wooden spoon to scrape up the brown bits from the bottom of the pan. Saute until soft, about five to seven minutes.
Add the meat and juices back to the pot.
Mix in the tomato paste and cook for a couple of minutes, until the tomato paste turns dark red and becomes slightly sticky.
Add the red wine to deglaze the pan.
Add the beef stock.
Add the bay leaves.
Add the ground rosemary and salt.
Bring to a boil, cover with a lid and then transfer to the oven to braise for two hours.
Once the stew has cooked for two hours, add the carrots and potatoes.
Return to the oven and braise for another two hours.
Adjust seasoning to your liking and enjoy!