My son remembers watching this movie in the late 80's maybe. All he can recall is that the Master is thin and bald and at some point in the movie he walks on water (supposedly because he is moving so fast). My son cannot remember the actor that played the american either. Sorry, that is not much to go on. Thank you.

The master was teaching an American, correct?

Not sure if this is the movie but the master in this film was able to run across water.

Remo Williams (http://www.imdb.com/title/tt0089901/)