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1
Pat the beef pieces dry with paper towels and place on a rack for 30 minutes to air-dry. Any surface moisture will produce steam rather than colour. The exterior must be entirely dry to the touch before the pan is approached.
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2
Heat the fat in a wide, heavy pot until shimmering. Brown the beef in small batches, ensuring space between every piece — crowding drops the pan temperature and produces grey, steamed meat. Turn each piece only when it releases cleanly and shows a deep mahogany crust on all surfaces. Remove each batch and reserve.
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3
Return the browned beef to the pot. Pour in the wine and stock. The liquid should come approximately two-thirds up the meat. Bring to a bare simmer, cover tightly, and transfer to a low oven or maintain the gentlest stovetop heat. Braise for approximately 2.5 hours. This is where the dish lives or dies: at the 2.5-hour mark, pierce a large piece with a fork — it should yield completely, offering almost no resistance, yet hold its shape without falling apart. Too short and the meat is tough; too long and it collapses into shreds with no textural interest.
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4
While the beef braises, prepare the pearl onions. Blanch briefly in boiling water, drain, and peel. Place in a single layer in a wide pan with the butter and sugar over medium heat. Cook, turning occasionally, until the onions are golden and coated in a light caramel glaze. They must hold their shape entirely. Reserve off the heat.
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5
Prepare the mushrooms separately. Heat the butter in a wide pan until foaming subsides and the butter is very hot. Add the mushrooms in batches — crowding produces steam. Sauté until golden and any liquid released has fully evaporated. The surface of each mushroom should be dry and coloured. Reserve off the heat.
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6
When the beef is done, add the glazed onions to the braise and simmer gently for 30 minutes — they must retain their shape and glaze within the braising liquid. Add the sautéed mushrooms at the last possible moment before serving; extended contact with the liquid renders them rubbery. Taste the braising liquid and adjust seasoning. Serve when the three components — beef, onions, mushrooms — are visually distinct and the sauce is deep, glossy, and cohesive.