Passage
O the happiness of that one, who Hath not walked in the counsel of the wicked. And in the way of sinners hath not stood, And in the seat of scorners hath not sat;
O the happiness of that one, who Hath not walked in the counsel of the wicked. And in the way of sinners hath not stood, And in the seat of scorners hath not sat;
Psalms 1:1 O the happiness of that one, who Hath not walked in the counsel of the wicked. And in the way of sinners hath not stood, And in the seat of scorners hath not sat;
Psalms 1:2 But--in the law of Jehovah <FI>is<Fi> his delight, And in His law he doth meditate by day and by night:
Psalms 1:3 And he hath been as a tree, Planted by rivulets of water, That giveth its fruit in its season, And its leaf doth not wither, And all that he doth he causeth to prosper.
The verse centers on "happiness", "hath", "walked", "counsel", "wicked", "sinners", and "stood". It is saying that the verse draws attention to "happiness" and "hath", so its meaning should be read from those terms before moving to application.
The next verse adds "But--in the law of Jehovah FI is...", so "happiness" and "hath" should be read forward into that movement. In Psalms context, the local focus is worship, trust, the LORD's kingship, and covenant mercy.
A plain takeaway is to answer the verse's own emphasis on "happiness" and "hath" with trust shaped by these words, not by a vague optimism outside the passage.