The physical properties of the Tomimatsu-Sato δ= 2 spacetime are analyzed, with emphasis on the issues of the negative mass distribution in this spacetime and the origin of a massless ring singularity. As a by-product of this analysis it is proved analytically that the Kerr spacetime with negative mass always has a massless naked ring singularity off the symmetry axis accompanied by a region with closed timelike curves.
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