The Gunners were keen to bring Real Madrid's Karim Benzema to the Emirates Stadium ahead of the season, though Wenger repeatedly denied the France international was on his radar.
And the former Monaco coach feels the form of Olivier Giroud in recent weeks has shown him to be right in not bolstering his attacking options during the transfer window.
"I could not understand the frustration of the fans," he told reporters.
"We had Giroud, but we also had Theo Walcott who I believe is a world-class striker, we had Alexis Sanchez who is a world-class striker, and we had Danny Welbeck who is a world-class striker.
"You have to spend a huge amount of money to improve on that four. Giroud has the confidence. I have said that many times. He has the mental stature to play in this position."
Jamie Vardy is a forward that has been linked with a host of top Premier League clubs following his superb start to the season at Leicester City.
And though Wenger distanced himself from any move, he admitted he was not surprised to see reports claiming the England international was on Chelsea and Manchester United's radar.
"He is the best scorer in the league – you have players who have cost more but don’t score that many.
"The mystery of Vardy is why, at 29 years of age, he has not had success before and why nobody has bought him before."
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