Sear the beef in a large pot over medium-high heat until browned.
Remove the beef from the pot and set aside. In the same pot, add onions and garlic, cooking until softened.
Stir in the tomato paste, then return the beef to the pot along with the beef broth, bay leaf, and thyme.
Bring the mixture to a boil, then lower the heat and let simmer for about 1.5 hours.
After simmering, add the root vegetables and cook until they are tender, about 30 minutes.
Season with salt and pepper before serving, adjusting to taste.