Heat olive oil in a large Dutch oven medium-high heat. Add the onions, garlic, and carrot and cook until tender, 3 - 5 minutes.
Add the ground meat and cook through, breaking it into small pieces using a wooden spoon, but do not brown. Drain off any excess grease, if necessary.
Add the beef bouillon and stir until completely dissolved. Season with pepper to taste. Stir in the wine and allow it to cook into the meat, about 3 minutes. Add tomato paste, and continue cooking until tomato paste starts to toast, about 2 minutes. Note: At this point, you can transfer the meat to the slow cooker and finish it there (read notes below).
Add tomato sauce and diced tomatoes, beef broth, bay leaf, oregano and basil and mix to incorporate.
Bring to a simmer, then reduce the heat to low and simmer covered for at least 1 hour up to 4 hours, stirring occasionally. Flavors will continue to develop the longer you allow the sauce to simmer, so simmer for up to 4 hours if time permits. Note: After the first 30 minutes of simmering, taste and adjust the seasoning, adding more salt and pepper if necessary.
Serve or store for later use.