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1
Adjust oven rack to lower-middle position and preheat oven to 275u00b0F. Combine porcini mushrooms and water in small bowl. Place a paper towel over the surface of the liquid to keep the mushrooms submerged. Let stand until mushrooms soften, about 30 minutes.
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2
Meanwhile, generously season short ribs with salt and pepper. Heat oil in a Dutch oven medium high heat until whisps of smoke barely begin to show on the surface. Add beef and cook until well browned on all surfaces, 8 to 12 minutes total. Transfer to a large plate and set aside.
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3
Return Dutch oven to medium heat and heat butter until melted. Add carrots, onion, and celery and cook stirring, until softened and barely beginning to brown, about 5 minutes. Add garlic and cook, stirring constantly, until fragrant, about 30 seconds. Add tomato paste and cook, stirring continually, until tomato paste takes on a burnished hue and starts to stick to the bottom of the pan, about 3 minutes.
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4
Add port and red wine to pan, scraping off any browned bits from bottom of pan with a wooden spoon. Bring to a boil and reduce to a simmer. Meanwhile, drain mushrooms through a strainer. Roughly chop the mushrooms, then add mushrooms and their liquid to the pot, along with chicken stock, bay leaves, thyme and browned short ribs.
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5
Return to a boil, cover, and transfer to the oven. Cook until completely tender, about 3 hours. Remove and discard bay leaves and thyme. Remove meat from bones, and discard bones. Skim fat from top of sauce. Bring sauce to a boil over medium heat and cook until reduced to a sauce-like, mildly thickened consistency, about 5 minutes. Return meat to the pan, season to taste with more salt and pepper, and serve immediately. (See note for serving suggestions).
