Sometimes it's best to just stay behind a slower rider until it is 110% safe to pass IE get him at the front of the straight away or don't push yourself trying to outbrake him. Looks like you just got in a little over your head. Very nice save though.
Did the same thing after my lowside too, sat there collected myself and just laughed it up.
Hah, yea that's pretty much exactly what happened. lesson learned!