Macro traders are typically thought of as the kings of intermarket analysis. This is because they are always looking across asset classes and across strategies in order to find major imbalances and discrepancies. Other investors will regularly invest in a stock without looking at commodities and bonds, not to mention exchange rates that may all have a huge impact on the company's future earnings.
If you look at the big picture then the micro picture will be a lot clearer. Where a macro trader looks at several different markets and their effects on one another the typical investor stays in their market. Why do they do this when they could instead look at the whole thing. In the example above you could avoid danger if for instance the company makes widgets out of iron ore and you knew that ore prices were going through the roof. Or you could look at the balance sheet and then look at the debt and the trend in interest rates to determine if the company can likely service its debt. What do you do if 80% of the business is done in Thailand? Well you see what the Thai Baht is doing against your local currency.
By looking across markets and doing your own intermarket analysis you will be better able to gauge some of the macro risks to your companies. No matter what type of investor you are things will be better if you are aware of the world around you.
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Rather than doing your own analysis, you could also get help in your stock investment selections. There are many reputable companies around that offer good services in this regard.