The best way to handle a bully is to fight them tooth and nail even if you're going to get beaten up or you get suspended from school. If you keep fighting them the bullying will stop, and you will also gain some self-esteem.

This is only half-true. Normally, the bully can escalate further than you are capable of, since they are experienced at it. Sometimes they can even get their henchmen to hold you at a distance so your resistance has no effect.

It worked for me once. I think, bullying the loser was kind of cool in front of his gang, but rolling around on the floor wrestling with a loser in front of them was not so cool. Sure, I got pulverized but he didn't try me again.

That is an anecdote though, not data. He was a small time bully, could have simply escalated to a stabbing after school and left me permanently disabled. I don't know the real answer, but telling people is a good start. Make sure people know about every incident. Don't silently suffer.

I don't fully disagree, but the bullying will not stop if they see that they can beat you up easily. It might even get worse.