01 - Pat beef cubes dry with paper towels and season generously with salt and pepper.
02 - Heat olive oil in a large Dutch oven or heavy pot over medium-high heat. Brown beef in batches without overcrowding, setting aside browned pieces on a plate.
03 - Add onion, celery, and garlic to the pot. Sauté for 3–4 minutes until softened and fragrant.
04 - Stir in tomato paste and cook for 1 minute to deepen flavor.
05 - Return beef to the pot along with any accumulated juices. Add carrots, parsnips, and potatoes.
06 - Pour in beef broth and red wine. Add bay leaves, thyme, and rosemary. Bring to a boil, then reduce heat to low.
07 - Cover and simmer gently for 1.5 to 2 hours, or until beef is fork-tender and vegetables are cooked through.
08 - If a thicker consistency is preferred, mix cornstarch with cold water to make a slurry. Stir into the stew and cook for 5 minutes until slightly thickened.
09 - Remove bay leaves and discard. Taste and adjust seasoning with salt and pepper as needed. Ladle into bowls and garnish with fresh chopped parsley.