CBS Honcho Les Moonves -- The 2013 Daytime Emmy Awards Were a TRAIN WRECK

Les Moonves knows good TV when he sees it -- but he can also spot a turd ... and the CBS honcho told TMZ the 40th Annual Daytime Emmy Awards show was a bona fide stinker.

Les had his own table at the award show Sunday night ... where he watched disaster after disaster unfold on the stage ... culminating with producers giving Aisha Tyler the WRONG ENVELOPE to open during the Best Talk Show presentation.

"You know what ... it wasn't a very well produced show and you can put that on the air," Moonves tells TMZ.

But there was a silver lining for Mr. Moonves -- check out the video to see why Les was THRILLED after the show.