Season beef with salt and pepper.
In a large stock pot, brown beef on all sides on medium-high heat. (Spritz with olive oil cooking spray or add a little water or broth to prevent sticking.) Set aside.
Add onion, celery, garlic and 1/4 cup beef broth to pot and saute until onions are translucent. Stir in arrowroot powder.
Add remaining ingredients, cover and let simmer on low heat for 90 minutes.
Remove bay leaf and serve.