Another great explaination. Cheers Capn!

This is one of the clearest explanations that I've seen. Well done Cap'n, and thanks!

Here's a little more detailed answer: https://www.youtube.com/watch?v=CqvmkJi_uZk probably for dinghy racers. She also has videos about basic race tactics that are pretty good.

As a natural contrarian, in the stock market when everybody wants to sell I try to buy, then hold on for as long as I can. Of course the tricky part is getting out. In sailing, it feels uncomfortable to react to bad news so quickly and change tacks when a little wind shift happens. I often find myself hanging on too long, riding a horse that already died. The hardest part is learning how to differentiate between natural wind angle variance and a meaningful wind shift that you need to respond to immediately.