Chop all veggies and set aside.
If beef cubes are large cut in half. Add beef cubes to a medium size bowl, sprinkle with the all-purpose flour or the cornstarch/arrowroot powder, salt and pepper. Mix well.
In a medium size stock pot or dutch oven add 2 tbsp of oil. Once oil is heated add the beef, working in batches if necessary. Let the meat brown on all sides, approximatley 5 min.
Remove the beef from the pot and place into a bowl.
Add another 1 -2 tbsp of oil to the pot and add the carrots and onions. Sprinkle with some salt and black pepper. Cook until onions start to brown, then add the beef back into the pot.
Add the red wine (or 1/4 cup of beef broth) and balsamic vinegar; scrape up any browned bits at the bottom of the pan.
Then add the beef broth, tomato sauce, bay leaf, and thyme. Stir until well combined.
Reduce heat to a low simmer. Cover and let simmer for 45 minutes.
Add the potatoes, stir and cover.
Let the stew simmer for an additional hour, stirring occasionally.
Stew is done when carrots and potatoes are tender.
Remove the bay leaf.
Taste and adjust for salt if needed.
Sprinkle with the fresh parsley.