Can I use the Grotesque Statue artifact on any effect and prevent loss on all affected targets?
From the FAQ/Errata (https://images-cdn.fantasyflightgames.com/ffg_content/eldritch-horror/support/EH%20Errata%20&amp;%20FAQ%202015-01-23.pdf):


  Q Can the Grotesque Statue Artifact prevent other investigators  from
  losing Sanity?
  
  A No. The Grotesque Statue Artifact’s second effect allows the 
  investigator to spend one Clue to prevent himself from losing  Sanity
  from a single effect. It does not allow him to prevent any  other
  investigator from losing Sanity.