Preheat the oven to 350°. Melt 1 tablespoon of butter with 1 tablespoon of olive oil in a cast-iron pot that is attractive enough for the table. Arrange the meat in one layer in the pot, and season it with salt and pepper. Cook on top of the stove over high heat for about 8 minutes, browning the meat on all sides.
Add 1 cup of finely chopped onion and 1 tablespoon of finely chopped garlic. Cook over moderate heat for an additional 5 minutes, stirring occasionally. Add 1 tablespoon of flour. Mix in well so that the flour doesn’t form lumps. Stir in 1 bottle of red wine. Add 2 bay leaves, a sprig of fresh thyme, salt and pepper and bring to a boil. Stir well and cover.
Place the pot in the oven and continue to cook for about 1 1/2 hours; the meat should be soft and tender and the liquid properly reduced. The recipe can be prepared to this point up to a day ahead.
For the garnishes, peel 15 cipollini or pearl onions, wash 15 cremini mushrooms and peel 15 baby carrots. For the lardons, you will need one 5-ounce piece of pancetta. Bring the pancetta and 2 cups of water to a boil in a saucepan and simmer for about 30 minutes; drain. Cut the pancetta into 1/2-inch slices and then cut the slices into 1-inch-wide lardons.
Combine the onions, mushrooms, carrots and pancetta in a skillet with 1 tablespoon of olive oil, 1/4 cup of water and a good dash each of sugar, salt and pepper. Bring to a boil and simmer, covered, for about 15 minutes; at this point, there should be practically no water left. Uncover and cook over high heat, sautéing the vegetables until nicely browned on all sides, about 4 minutes.
To serve, mix some of the vegetables and lardons into the stew and sprinkle the rest on top as a garnish. Add a little chopped fresh parsley and serve.