He is obsessed about value for money. Which admirable in a way but frankly in a lot of cases, you get what you pay for IMO. We paid big bucks for Oxo and it looks like we have the best teenager in the world. We paid modest sums for Gervais and Arteta and it looks like we have capable but extremely frustrating players.
I mean, there must have been a reason why Gervinho, a key player in Lille's title winning team wasn't courted as much as say Eden Hazard, and now we're finding out why.
Spending big is of course no guarantee for success but the market has changed now. You won't be able to pick up the next Van Persie or Vieira for 3m, because everyone knows who they are meaning you need to pay a premium. Wenger has not bitten the bullet and adapted his style. I remember an interview at the start of the season, a classic WUMger interview, he spoke about being willing to spend 30 or even 40m on a player, but they had to be the right player...or in another words you could say, super quality.
Who's he trying to kid?
Also, the fact we did nothing in January speaks volumes.