1 How blessed is the man who does not walk in the counsel of the wicked,
Nor stand in the path of sinners,
Nor sit in the seat of scoffers!
2 But his delight is in the law of the LORD,
And in His law he meditates day and night.
The NASB has not mistranslated these two terms. It in fact tracks right along with many other major English versions (e.g., ESV, NIV, RSV). The problem is not translation, but tradition.