The Reds squandered the funds raised from the £75m sale of their talisman Luis Suarez to Barcelona on nine players in the transfer window.
A whole raft of players were brought in when maybe just a couple of top-class players should have been bought
However, Mario Balotelli, Lazar Markovic and Dejan Lovren have taken longer than expected to settle, whilst Adam Lallana has endured an injury-hit start to the season.
And former Liverpool captain Thompson reckons Reds manager Brendan Rodgers should have opted for quality instead of quantity.
“It’s going to be a big five weeks for Brendan for turning things around and people are going to start to look at the January transfer window,” Thompson told Sky Sports News.
“The players he has brought in have not done it and the question is: what will be done in January?
“A whole raft of players were brought in when maybe just a couple of top-class players should have been bought.”
Liverpool are in 12th place and five points behind fourth-placed Manchester United after 3-1 defeat by Crystal Palace on Sunday.
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