The Bianconeri were heavily linked with a move for the Colombia international but he instead joined Manchester United on deadline day, with the Premier League giants paying a fee of around £10 million to loan him for a season with an option to buy.
When asked by reporters if he was disappointed by Juve's failure to sign Falcao, Allegri replied: "No, I feel that the directors have worked well.
"The aim was to carry out targeted operations, not to buy just for the sake of buying. Ours was an intelligent transfer market.
"We would have only done something more if we had found a player that would have really lifted the level of the squad.
"Otherwise, buying for the sake of buying is useless. Juventus have already shown themselves to have a very competitive squad."
United were also keen on luring Bianconeri midfielder Arturo Vidal to Old Trafford throughout the summer but Allegri insists that there was no chance of the Chilean leaving Turin.
"He was never on the market," the former AC Milan boss stated. "The club told me from the start that he would stay.
"We have maintained a good squad, with a lot of great acquisitions."