26 Heb “this [is] their way, [there is] folly [belonging] to them.” The Hebrew term translated “this” could refer (1) back to the preceding verse[s] or (2) ahead to the subsequent statements. The translation assumes the latter, since v. 12 appears to be a refrain that concludes the psalm’s first major section and marks a structural boundary. (A similar refrain [see v. 20] concludes the second half of the psalm.) The noun דֶּרֶךְ (derekh, “way”) often refers to one’s lifestyle, but, if it relates to what follows, then here it likely refers metonymically to one’s destiny (the natural outcome of one’s lifestyle [cf. , , “fate”]). (See the discussion in K. Koch, 3:285.) If one prefers the more common nuance (“lifestyle”), then the term would look back to the self-confident attitude described in the earlier verses.
27 Heb “and after them, in their mouth they take delight.” The meaning of the is not entirely clear. “After them” is understood here as substantival, “those who come after them” or “those who follow them.” “Their mouth” is taken as a metonymy for the arrogant attitude verbalized by the rich. In the expression “take delight in,” the preposition -ב (bet) introduces the object/cause of one’s delight (see Pss 147:10; 149:4). So the idea here is that those who come after/follow the rich find the philosophy of life they verbalize and promote to be attractive and desirable.