Lightning doesn't always strike the tallest object
As I understand it, lightning seeks the shortest path to ground. If a 60' and a 40' mast are within 100 yards of each other, lightning may strike the shorter mast, if it's the shortest path between ground and the point of origination of the charge.From what I've read (I'm certainly no expert), it seems the best protection is to give lightning a path to follow if it strikes your boat. That means wiring together the mast, compression post, shrouds, stays, engine block, and any other large masses of metal. These should all be connected to a metal plate of at least 12 square inches mounted under the boat. This is not a do-it-yourself project; it should be done by a qualified marine electrician.As for hanging chains or battery cables into the water from the shrouds, that might work if your mast, stays, and engine block are non-conductive. Otherwise, you may find part of the charge still seeking a path to ground on its own, and going through everything in its path.