Season the beef with salt and pepper and place on a lightly oiled (1 tablespoon olive oil) baking sheet. Roast the beef in the oven at 400°f for 25 minutes.
Once the beef is done, heat an oven-safe dutch oven over medium heat. Add in 2 tablespoon of olive oil along with the onion, celery, mushroom, and garlic. Cook until the vegetables are slightly browned.
Add the roasted beef to the pot along with red wine and bay leaves. Put a lid on the pot and put it in the oven on 325°f for 45 minutes.
Take the pot out of the oven and add in all the remaining vegetables, the water (or stock) the herbs, and the cornstarch and water mixture. Bring the contents of the pot to a boil on the stove top then put it back in the oven for an 1 ½ hours or until the meat and veggetables are tender.
Taste the stew and adjust the seasoning as needed. Finish the stew by stirring in the butter.