Preheat the oven to 350°F. Season the beef on all sides with salt and pepper.
Add the butter and vegetable oil to a large Dutch oven over medium high heat. Once hot and the butter is melted, add the seasoned beef and sear until golden brown on all sides. Remove the beef to a plate and set aside.
Add the onion, garlic, carrots, celery, potatoes, and rosemary to the Dutch oven and cook, stirring occasionally, until browned.
Stir in the tomato paste and continue to cook for another 2-3 minutes.
Deglaze the pan with the red wine, scraping up the brown bits from the bottom of the pan, and continue to cook for another 2-3 minutes.
Place the seared beef back into the Dutch oven and add the beef stock and bay leaves.
Cover and transfer the Dutch oven to the preheated oven. Cook until the beef is tender and shreds easily, about 5-6 hours. Season with more salt and pepper as needed. Remove the bay leaves and serve hot with desired sides.