In a medium sized pot, heat olive oil. Add beef and allow it to brown for 5 to 6 minutes. Add onion, garlic, and Italian seasoning and continue to cook for another 3 minutes. Add rice flour and stir to coat.

Add bay leaves. Pour in red wine. When it comes to a boil, reduce heat to low and simmer for about an hour 1¼ to 1½ hours.

Add carrots, shallots, mushrooms, black olives, salt, and pepper. Continue to cook for another 15 minutes. Turn off heat.