Hard Assets Investor submits: Stocks or futures—which offers the best way to play commodities? The answer, of course, is that "it depends." But in times of contango, says Satch Chada, equities may offer the greater edge.Chada is a managing director and global head of Investor Solutions for Jefferies Asset Management, LLC, a wholly owned subsidiary of Jefferies Group, Inc. (NYSE: JEF). Jefferies Group now manages more than $3.2 billion in assets worldwide. Last year, JAM teamed up with Alps Advisors Inc. to launch the first family of commodity equities ETFs (NYSE Arca: (CRBQ), (CRBI) and (CRBA) based on the CRB Equity Indexes (CRB-EQ Indices). More recently, JAM again teamed up with ALPS to launch the new Jefferies | TR/J CRB Wildcatters Exploration & Production Equity ETF (NYSE Arca: WCAT). Prior to joining Jefferies, Chada was a managing director at Merrill Lynch, and led development of such products and platforms as the HOLDRS, ELEMENTS and TRAKRS programsComplete Story »