Heat oil in an oven-proof dutch oven over medium-high heat. Sear the meat on all sides for about 5 minutes each. The meat should be darker with a seared crust.
Tuck the onions around and under the beef and cook for about 5 or so minutes. You'll want them to caramelize a bit. Add the garlic cloves about a minute before the onions are done.
Add the carrots, bay leaves, thyme, stock, and wine.
Cover and bake 2 1/2 hours on 350.
Add the potatoes and cook another 30 minutes.
Plate the beef and vegetables. Spoon sauce over and serve