Heat oil in a large Dutch oven over medium-high heat. Sprinkle beef with salt and pepper. Add to pan; cook 5 minutes, turning to brown on all sides. Remove beef from pan. Add onion to pan; saute 8 minutes or until tender.
Return beef to pan, and add stock, wine thyme sprigs, garlic, and bay leaf; bring to a simmer. Cover, place pan in oven, and bake for 1 hour 15 minutes or until beef is almost tender.
Add carrots and potatoes to pan. Cover and bake for an additional 30 minutes or until vegetables are tender. Remove thyme sprigs and bay leaf from pan; discard. Serve beef with vegetables and cooking liquid.