Heat the oven to 300°F and season the roast with salt and pepper. Starting with a fully heated oven keeps the braise at a steady, gentle temperature.
Warm the olive oil in a large Dutch oven over medium-high heat, then brown the roast for about 4 minutes per side, adding more oil if needed. Look for a deep mahogany crust and a lively sizzle rather than pale, gray meat.
Scatter the chopped onion around the browned roast. The onion should begin to soften at the edges and smell sweeter as it meets the hot pan.
Stir together the beef broth, red wine, garlic, rosemary, and thyme, then pour the mixture around the roast and add the bay leaf. The liquid will loosen the browned bits from the bottom of the pot and turn a deeper brown.
Bring the liquid just to a simmer over medium-high heat, cover the Dutch oven, and place it in the oven for 2 hours. Small bubbles around the edges are the goal, not a hard boil.
Add the potatoes, carrots, and celery, cover again, and cook for an additional 2 hours for a 4-pound roast, or until the beef and potatoes are fork-tender. The vegetables should be tender through the center while still holding their shape.
Remove and discard the bay leaf, then pull the beef into large pieces with a fork or slice it thickly. The roast is ready when the meat separates with little resistance and the juices taste deeply savory.