  After the original discovery of the Kerr metric, Newman and Janis showed that
this solution could be ``derived'' by making an elementary complex
transformation to the Schwarzschild solution. The same method was then used to
obtain a new stationary axisymmetric solution to Einstein's field equations now
known as the Kerr-newman metric, representing a rotating massive charged black
hole. However no clear reason has ever been given as to why the Newman-Janis
algorithm works, many physicist considering it to be an ad hoc procedure or
``fluke'' and not worthy of further investigation. Contrary to this belief this
paper shows why the Newman-Janis algorithm is successful in obtaining the
Kerr-Newman metric by removing some of the ambiguities present in the original
derivation. Finally we show that the only perfect fluid generated by the
Newman-Janis algorithm is the (vacuum) Kerr metric and that the only Petrov
typed D solution to the Einstein-Maxwell equations is the Kerr-Newman metric.
