Liverpool signing Davies is different though. That's not panic really, it's actually a pretty sensible deal (in theory). They need a centre half in the short term but not the long term. They sign a lad who is nearly out of contract for a low fee, he offers cover or plays for the next couple of months, and is maybe kept on as cover next year. Then he's sold on at a massive profit as instead of being a Championship defender he's now got CL experience and Liverpool on his CV and someone is willing to pay £10m for him. Hopefully it doesn't work out and he scores 3 own goals in the derby, but i'd say as a move it's almost the exact opposite of a panic buy.