Moyes has been appointed as the new coach of Sociedad, just six months after being sacked as the Manchester United manager.
Back in 2007, Steve McClaren met with similar failure when he could not lead England to Euro 2008 qualification.
The 53-year-old Englishman was ridiculed at the time, but since then he has gone on to achieve great success in club football.
McClaren led FC Twente to the Eredivisie title in the 2009-10 season and almost took Derby County back to the Premier League at the end of the 2013-14 campaign.
“David Moyes had one bad season,” wrote Sherwood in The Independent. “If anything he will have learnt more from the experience of that nine months at Manchester United than any period in his career.
“The clubs he manages from now on will benefit from that. Steve McClaren had come out of a difficult time when he joined FC Twente, and he won a Dutch title there.”
Moyes will take his first game in charge of Sociedad tonight when La Real face Deportivo La Coruna away from home in La Liga.