Preheat oven to 350 degrees. Heat 1 tsp olive oil in a Dutch oven. Add the beef and cook over medium high heat, turning until browned on all sides, 5 minutes; remove to a plate. Add the remaining 1 tsp oil to the pan. Add onion, carrot, celery, garlic and bay leaf; stir to coat with oil. Cover, reduce heat to low and cook, stirring occasionally, 15 minutes, or until the vegetables are very tender. Add the wine and bring to a boil for one minute. Stir in the tomatoes with their juices, the broth and water and tomato paste. Heat to simmering. Add the meat and any jucice from the plate. Cover, transfer to the oven and cook 2 1/2 hours or until the meat is very tender when pierced. I cook longer as I like it to fall apart. Remove meat to a platter. Ladle the liquid and solids from the Dutch oven into a food processsor; puree until smooth. Return to the Dutch oven and bring to a boil over high heat. Boil the sauce until slightly thickened, 5-10 minutes. Season with salt and pepper. Serve on a large platter with sauce on top. Hearty fixins' for a cold wintry day.