Heat oil in a stockpot over medium-high heat. Sprinkle beef with 1/2 teaspoon salt and pepper. Add beef to pan. Saute 10 minutes or until browned. Remove from pan.
Add onion, bay leaves, and thyme to pan. Cover, reduce heat, and cook 10 minutes, stirring occasionally.
Uncover. Stir in tomato paste. Increase heat to medium-high. Add carrot, turnips, barley, 4 garlic cloves, and mushrooms. Saute 3 minutes. Add beef, 1/2 teaspoon salt, water, broth, Worcestershire, and beer. Bring to a boil. Reduce heat. Simmer, covered for 1-1/2 hours. Discard bay leaves and thyme sprigs.
While stew is simmering, trim beets leaving root and 1 inch stem on each. Scrub each beet with a brush. Place in a medium saucepan and cover with water. Bring to a boil. Cover, reduce heat and simmer 35 minutes or until tender. Drain and rinse with cold water. Drain and let cool. Rub off skins leaving root and 1 inch stem on each beet. Cut each beet into 6 wedges.
Combine parsley, thyme leaves, and 1 garlic clove. Ladle about 2 cups of stew into each of 6 bowls. Top each serving with 3 beet wedges, 1/6 of the parsley mixture, and 1 teaspoon horseradish.