I dont think Martinez panic buys at all.
I think he has a list of targets, he scouts these targets, he does background checks on his targets and then he probably makes inquiries for a price, wages etc.
Thats the least I expect from a Manager buying players worth millions of somebody elses money.
Sometimes the players "fail" the background checks, yano, late for training, seen out in clubs when they shouldnt, generally a bit of an arse, so it goes no further, silly transfer fees, silly wage demands and then we probably walk away and move on to the next target, we aint Chelsea, City, PSG, we dont ALWAYS get our first target, but the Manager isnt stupid and neither are the scouts, its not like they would waste time scouting Messi for example.
Sometimes we probably have our eye on a player, but as is NORMALLY the Everton way, if we can save a few 000k on wages by waiting for the last day, we will do that, if we can get a few more million out of United by waiting till the last hour, we will do that also.
It doesnt mean they are panic buys, I doubt Martinez has EVER made a panic buy, he doesnt strike me as the type, clearly he signs players that are a risk, sometimes they work, Besic, sometimes they dont, Atsu.
We probably have a passing interest on a number of player currently, most wont get past the "how much you want mates" stage, a few will get to the background checks and then the odd 1 will probably go as far as asking for wage demands.
Only a stupid manager keeps all his eggs in the 1 basket, for all his faults, Martinez isnt stupid.