emperor. Rafa knows that he doesn't have enough cash to compete with other clubs, so he tried to build the best team he can with the budget he has. this explains why in every transfer window, we are linked with hundreds of players.
Rafa's philosophy is that a solid, and balanced team is the base for every successful club. in addition to the solidity, you can add creativity to get the desired results. but Rafa also relies a lot on the player's mentality. for example, look at Carragher as a player. he is technically limited, but his mentality made him improve year after year until he became a world class centreback. Kuyt as well, he is technically limited, but his hard work and determination made him the "useful" player he is know, even though we sometimes feel that he is not good enough.
he is a cautious manager, and sometimes he makes the strangest decisions. but you don't judge a manager (or in fact, any person) for his occasional mistakes, but on his work in general.
if you look at Wenger, he has a great scouting system, he knows how to develop youths, but he is too stubborn. he is relying too much on youngsters, when he really needs to add some experienced players to guide them to success. he has refused to buy these kinds of players, which explains Arsenal's unstable performances.
Ferguson is the most successful manager of the past 2 decades, he is great in building teams and has proven himself over and over again no matter how much we hate him. but he also started with Ji Song Park in the CL final, while Tevez was warming the bench.
every manager has his ups and downs. Rafa has proved that his only real problem is cash, not his ideas. so lets wait and hope for the best.