An evidence of David"s confidence in the Lord was his choice to keep company with others who trusted in and walked with God. He respected them because they shared the majestic quality of their God. [source][source][source]
Context Summary
Psalm 16:1-11 - The Citizen Of Zion And His Inheritance
The first of these psalms was probably composed to celebrate the bringing of the Ark to Mount Zion, 1 Samuel 6:20. It describes the character of those who have fellowship with God and dwell in His house all the days of their earthly lot. To the challenge of the soloist, Psalms 15:1, the choir makes response, Psalms 15:2-5, first positively, then negatively. We must act as non-conductors to evil; must mind what company we keep; and must cultivate a spirit of love and self-sacrifice which will never take advantage of others, Psalms 15:5. Here is the secret of permanence and peace.
Michtam means "golden," and may be truly applied to the next psalm, as also to Psalms 56:1-13; Psalms 57:1-11; Psalms 58:1-11; Psalms 59:1-17; Psalms 60:1-12. Others explain the word as a "secret." It is the song of the golden secret. The key is furnished in Acts 2:25. The Apostle Paul expressly emphasizes the divine authorship in Acts 13:35-38. Our Lord may have repeated Psalms 16:8-11 when He was descending the dark valley, and so may we. [source]
Chapter Summary: Psalm 16
1David, in distrust of merits, and hatred of idolatry 5He shows the hope of his calling, of the resurrection, and life everlasting
What do the individual words in Psalms 16:3 mean?
As for the saintswho [are]on the earththey [are]and the excellent onesallmy delightin whom [is]